Speaking at the Ministry of Finance's press conference for the fourth quarter of 2024 on the afternoon of January 7, Mr. Pham Van Binh, Deputy Director of the Price Management Department, said that there are many potential factors affecting inflation in 2025, but in addition to external factors, there are also many potential factors such as price fluctuations of some essential goods and adjustments to public service prices according to the roadmap.
As a permanent member of the Price Management Steering Committee, in the process of implementing general price regulation, the Ministry of Finance found that in 2025 there are still potential factors that could increase the CPI and affect the inflation control target set by the National Assembly and the Government at 4.5%.
The Ministry of Finance has just issued Directive 05/CT-BTC to strengthen management, operation, and price stabilization during the Lunar New Year 2025; including a number of price management measures in 2025, especially during the Lunar New Year, to control inflation according to the target.
Accordingly, the Minister of Finance requested units in the industry to closely monitor the world's economic - political situation and inflation affecting Vietnam to have appropriate response solutions; update the situation of supply and demand, domestic market prices to promptly advise on measures to manage, operate and stabilize market prices, especially before, during and after Tet, to avoid unusual fluctuations affecting economic - social life; strengthen the fight against smuggling, trade fraud and counterfeit goods; strictly control tax declaration, settlement and refund.
The Price Management Department is responsible for presiding over and coordinating with relevant units under the Ministry of Finance and functional units under ministries and branches to grasp information, closely monitor developments in supply and demand, markets, and prices, especially for a number of essential consumer goods and important production materials with large price fluctuations; promptly advise the Ministry on appropriate price management and operation measures to stabilize market prices and control inflation; preside over the deployment of inspection teams, grasp the implementation of price management and stabilization work in a number of localities during the Lunar New Year 2025.
At the same time, proactively organize the implementation of the directions of the Government, the Prime Minister, the Deputy Prime Minister - Head of the Steering Committee for Price Management; promote the work of synthesizing information, analyzing and forecasting market price developments; proactively develop price management scenarios for 2025 and advise and propose appropriate price management and operation measures; inspect and examine organizations and individuals according to their authority to comply with the provisions of law on prices according to the inspection and examination plan approved by the Minister of Finance.
The Price Management Department has held a meeting of the Working Group and in the coming time, the Price Management Steering Committee will meet to develop a price management scenario for 2025.
According to Mr. Pham Van Binh, in 2025, to control inflation according to the target, the management agency will continue to improve the legal system; proactively develop management scenarios for each group of goods, especially essential goods and services. In addition, on the basis of grasping market information, supply and demand of goods, to develop appropriate management scenarios for the whole year.
In 2024, CPI increased by 3.63% compared to the same period last year. The main reason was the increase in prices of food and catering services when domestic rice prices increased following export rice prices, natural disasters, storms and floods, and increased consumer demand during holidays and Tet, along with increased pork prices; housing, electricity, water, fuel and construction materials increased; prices of medical services and health insurance were adjusted to increase according to the basic salary.
According to VNA
Source: https://doanhnghiepvn.vn/kinh-te/con-nhieu-yeu-to-tiem-an-tac-dong-lam-tang-cpi-nam-2025/20250107113354400
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