Deputy Prime Minister Nguyen Van Thang chaired a meeting of the Steering Committee for Price Management in Hanoi on October 9. The meeting reviewed price management in the third quarter and discussed forecasts and scenarios for the rest of 2026.
Thang, who heads the committee, urged ministries and agencies to coordinate more closely on fiscal and macroeconomic policies. The tasks include controlling inflation, stabilising the macroeconomy, maintaining major economic balances, creating room for growth and strengthening the economy’s resilience to external shocks.
He also called for close monitoring of domestic and international developments and timely, effective measures to lower the Consumer Price Index. This would create more room to support growth.
Officials were told to adjust prices of State-regulated goods and services according to suitable roadmaps and assess the impact on the Consumer Price Index in advance. They must balance market-based pricing, inflation control and support for the recovery of production and trade.
Inspections of price declarations and listings, particularly for essential goods, will be tightened. Authorities must crack down on speculation, hoarding for illicit gain and price manipulation, as well as arbitrary price increases during natural disasters such as storms and floods or peak holiday periods.
Companies must promptly cut selling prices when input costs fall to protect consumers. Authorities must also strictly enforce rules requiring schools to disclose tuition fees and other charges at the start of the academic year and prevent unauthorised collections.
Thang urged ministries and agencies to strengthen monitoring in their areas. They should provide timely, transparent information on price-management policies and changes in essential-goods prices to inform the public, steady consumer and business sentiment and contain inflation.
He also called for wider dissemination of new pricing rules and procedures for receiving price declarations so that data for market analysis, assessment and forecasting is available on time.
The State Bank of Vietnam was tasked with conducting monetary policy in close coordination with fiscal policy. It is to monitor exchange and lending rates, money supply and international capital flows to find ways to curb inflation. Credit growth should be kept at a reasonable pace, with funds directed to production, trade and priority sectors.
The Ministry of Finance was asked to continue using tax, fee and charge exemptions, reductions and extensions to lower business input costs and support livelihoods.
Deputy Minister of Finance Tran Quoc Phuong said the ministry had updated two inflation scenarios for 2026, projecting rates of about 4.5% and 4.8%.
The central bank forecasts average inflation in Vietnam at 4.5–5% in 2026, while international organisations project a rate of about 4.2–5.5%.
Sources: VietnamPlus / Vietnam News Agency
