In order for the salary increase to have a positive impact on life, the Ministry of Finance has also had scenarios to control inflation and avoid unreasonable price increases.
Prime Minister Pham Minh Chinh has just signed and issued an Official Dispatch on strengthening price management and control measures. In particular, the Prime Minister requested: Ministries, branches and localities to continue to closely monitor market developments, promptly implement solutions to ensure domestic supply and demand balance, stabilize prices, and prevent shortages, hoarding, speculation and unreasonable price increases.
In the latest meeting of the Price Management Steering Committee, the General Statistics Office and the Ministry of Finance both forecast that the average CPI for the whole year will fluctuate between 3.7 - 4.5%, and in the first half of the year, basically the price movements of essential goods are still within the set scenario.
First of all, gasoline prices have been on an upward trend in the first four months of the year, then have decreased since the end of April until now, and have returned to a level almost equal to the beginning of the year. On that basis, transportation service prices, such as the general level of airfares, have also cooled down compared to the peak period. According to the Ministry of Transport, airline ticket prices in May fluctuated at 30-70% of the maximum level as prescribed. Efforts have been made to have more price ranges to serve the upcoming summer tourist season.
CPI in April and May increased slightly by only 0.05-0.07% compared to the previous month, mainly due to a number of factors such as hot weather affecting the local supply of vegetables, increasing demand for electricity and water, purchasing refrigeration products, and increasing demand for beverages, thereby pushing up prices of these groups of goods slightly. In addition, the long holiday of April 30-May 1 also increased demand for eating out and traveling, but the price indexes of these groups only increased slightly.
According to the Ministry of Finance's estimates, in the last 7 months of the year, the average monthly CPI still has room to increase by about 0.39 - 0.6% to ensure control of average inflation in 2024 within the set target level.
Proactive plan to control prices of essential goods
Controlling prices of essential goods requires the participation of not only ministries, but also localities across the country, especially in localities that are economic locomotives. Recorded in one of the leading consumer markets in the country, Ho Chi Minh City.
At many traditional markets in Ho Chi Minh City, dried goods, vegetables, and fresh meat and fish have their prices publicly listed for consumers to easily track.
"Items with listed prices are very reassuring. No need to worry about overpricing. I can calculate to buy more items," said Ms. Tran Thi Tu Trinh, Ho Chi Minh City.
Currently, commodity prices fluctuate slightly in some product groups, mainly due to the impact of external factors such as exchange rates, input material costs, and logistics costs. Retailers said that the business strategy at this stage is to buy goods directly from the source, buying in large quantities to get good prices.
Mr. Nguyen Duc Toan - Purchasing Director of MM Mega Market Vietnam system said: "Currently, we have signed with about 1,400 suppliers, including 200 strategic suppliers. We have a price stabilization program for more than 1,000 essential products, directly targeting vegetables, fruits, fish and meat products".
"Good price stabilization attracts people to buy at a good price with good quality. I buy a lot, buy for the whole week and then go again next week," said Ms. Nguyen Thi Phuong Loan, Ho Chi Minh City.
The market stabilization program is the most effective tool in controlling prices in Ho Chi Minh City. From the beginning of the second quarter, 3/10 groups of goods proposed to reduce prices were poultry meat, poultry eggs and processed foods, reduced by 2-7%. 6/10 groups of goods kept the same price. Guaranteed prices are 5-10% lower than market prices.
Poultry egg enterprises said they have proactively improved production to ensure prices for the price stabilization program.
Mr. Truong Chi Cuong - Deputy General Director of Vinh Thanh Dat Food Company said: "The company invested in 2 new production lines, with higher automation, reducing the loss rate that causes cracked and broken eggs. Reducing indirect costs such as advertising and marketing".
"Food processing enterprises all prepare raw materials for production for 3-6 months. We do not increase prices suddenly but maintain the current selling price to increase purchases on the market and create many promotional programs," said Ms. Ly Kim Chi - President of the Ho Chi Minh City Food and Foodstuff Association.
The Ho Chi Minh City Food and Foodstuff Association also said that the lending interest rate for food and foodstuff enterprises has just been reduced by 1-2%, along with a series of policies from the Government such as debt deferral, tax payment extension, and 2% VAT reduction, which are also tools to help control prices more proactively and conveniently.
In the coming period, regarding the Government's proposal to increase salaries by 30% for officials, civil servants, and public employees and 15% for retired workers, the Ministry of Finance said that adjusting the basic salary increase according to the annual roadmap is the Government's effort to achieve the goal of ensuring the lives of salary earners. In order for the salary increase to have a truly positive meaning in life, the Ministry of Finance has also had scenarios to control inflation and avoid unreasonable price increases. The leaders of the Ministry of Finance also emphasized that, according to statistics so far, the increase in basic salary on July 1 will not have much impact on the increase in prices and goods.
Mr. Nguyen Duc Chi - Deputy Minister of Finance said: "Inspection and control of the market according to the newly issued Law on Prices, against speculation, price manipulation. I think the market, people, businesses and society adapt to the salary increase and there is not much psychological impact from the salary increase, impact on inflation".
Price management closely follows world developments
However, controlling average inflation within the target set by the National Assembly from 4-4.5% is a challenging task, especially in the context of international oil prices or sea freight service prices that can fluctuate unpredictably. The key is that the economy is recording a positive recovery.
Some National Assembly delegates said that the Government has flexibly balanced growth and inflation, thereby continuing to pursue the goal of supporting economic recovery.
Mr. Hoang Van Cuong - Finance and Budget Committee of the National Assembly said: "We do not have to force prices down too much, thanks to that we can see that the economic recovery speed in recent times has been very good, without affecting people's lives. To see that the Government has enough potential to control the prices of goods in the market, including very sensitive goods".
In the recent 6-month review meeting, representatives of the Ministry of Finance also proposed a group of solutions to continue to tightly control inflation fluctuations from now until the end of the year.
Ms. Le Thi Tuyet Nhung - Deputy Director of the Price Management Department, Ministry of Finance emphasized: "Firstly, closely monitor the supply and demand of market prices and essential goods to have appropriate management measures. Second, ensure measures for the supply and circulation of goods. Third, focus on price declaration and posting. Prepare early plans to manage prices of State-priced goods and public services according to the market roadmap. Fourth, flexibly manage monetary policy according to the set goals, synchronously and harmoniously with fiscal policy".
At a recent meeting of the Steering Committee for Price Management, Deputy Prime Minister Le Minh Khai also requested to focus on the work of building and perfecting institutions to implement and guide the 2023 Price Law to ensure consistency, synchronization and efficiency, creating a complete legal corridor for price management and management.
In the recently issued telegram, the Prime Minister also assigned many tasks to ministries and branches regarding the management and operation of prices of specific items such as gasoline, electricity, medical examination and treatment services, food, construction materials, air transport, education services, and requested competent agencies to strictly handle cases of spreading false information that causes confusion among consumers and destabilizes the market. Ministries and branches are responsible for reporting to the Prime Minister on price management scenarios and impacts on inflation before June 30.
According to VTV
Source: https://doanhnghiepvn.vn/kinh-te/khong-de-tang-gia-bat-hop-ly-khi-tang-luong/20240625092238614
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