Ministries step up price controls ahead of Tết

Ministries step up price controls ahead of Tết

The Ministry of Finance has asked price management to be enhanced ahead Tết (Lunar New Yeat) to prevent abnormal fluctuations during the peak holiday period.

Consumers shop at a supemarket in Vĩnh Long Province. The Ministry of Finance has asked price management to be enhanced ahead, during and after Tết (Lunar New Yeat) to prevent abnormal fluctuations during the peak holiday period. — VNA/VNS Photo Lê Thuý Hằng

The Ministry of Finance has called for stronger price management before, during and after Tết, the Lunar New Year, to prevent abnormal fluctuations during the peak holiday period when consumer demand typically surges.

Minister of Finance Nguyễn Văn Thắng, in Directive 03/CT-BTC issued recently, urged closer monitoring and analysis of market price movements, particularly for essential goods, to promptly introduce measures that ensure smooth market operations and keep inflation under control ahead of, during and after Tết.

The directive also stresses the need to closely track global economic and political developments, inflation trends and external factors that could put pressure on domestic prices, while regularly updating assessments of supply and demand in the local market.

Stricter enforcement against smuggling, trade fraud and counterfeit goods was also ordered, alongside tighter oversight of price listing and declaration, tax compliance and tax refunds to prevent violations that could undermine market stability.

In addition, the ministry asked for stronger price forecasting and analysis, including the development of inflation scenarios for 2026, and closer coordination with relevant ministries and agencies to ensure smooth circulation of goods and a balance between supply and demand.

Reports on price management must be submitted to the ministry’s Price Management Department by February 11 to enable timely measures to stabilise the market for Tết.

The ministry said the domestic market remained largely stable in 2025, with ample supplies of essential goods and generally steady prices. Falling fuel prices in particular helped ease costs for businesses and supported social stability, it added.

Seven inspection teams formed to ensure market stability ahead of Tết

Separately, the Ministry of Industry and Trade has set up seven inspection teams to monitor goods supply and market stability during the Tết shopping season amid heightened risks of smuggling, counterfeit goods and price manipulation.

The teams will operate from January 9 to March 15, with inspections concentrated in January, when consumption demand is highest, and risks of hoarding, speculation and food safety violations increase. 

Inspections will include on-site checks at warehouses, markets, supermarkets, border gates and remote areas, with particular attention paid to food safety, fuel supply and the enforcement capacity of local market surveillance forces.

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