Prime Minister ordered ministries to stable prices to avoid high inflation

Prime Minister Nguyen Xuan Phuc ordered ministries to stable prices of basic goods to avoud high inflation.

Prime Minister Nguyen Xuan Phuc directed relevant ministries to adjust prices according to market while striving to make precise forecasts and stockpile an adequate amount of goods to prevent false price augmentation.

He agreed to the proposal of Ministry of Industry and Trade (MoIT) and the Ministry of Finance (MoF) which suggested electricity retail prices should not be increased. He also gave advice that the Ministry of Health must not raise medical services fees simultaneously in all 63 provinces and cities in 2016, but work with the MoF and local administrations to increase the fees at appropriate points of time. Tuition fees should also not be adjusted at the same time with medical fees to avoid a sudden impact on consumer prices, he added.

Minister of Education and Training Phung Xuan Nha said 20 provinces have raised tuition fees at modest levels since last December, which has yet to greatly affect the consumer price index. He pledged to control tuition fees in line with education quality.

The MoIT was also allowed to import 100,000 tonnes of sugar in the short term to stabilise domestic prices.

Prime Minister Nguyen Xuan Phuc highlighted that the ultimate goal is to ensure the inflation rate does not surpass 5 percent, as targeted by the National Assembly. Prices of many basic commodities must not be increased this year to prevent a surge in the consumer price index, he said.