Government steps up price management ahead of year-end

Government steps up price management ahead of year-end

The dispatch calls for close monitoring, analysis and forecasting of market price movements, with appropriate management measures developed in response to actual market conditions.

People shop at Aeon Văn Giang Supermarket in the northern province of Hưng Yên. — VNA/VNS Photo

 Prime Minister Lê Minh Hưng has called on ministries, agencies and authorities to take coordinated and decisive measures to manage prices, maintain macroeconomic stability and protect people's living standards, with the average consumer price index (CPI) targeted to rise by around 4.5 per cent in 2026.

Dispatch No 70/CĐ-TTg, dated October 15, 2026, calls for close monitoring, analysis and forecasting of market price movements, with appropriate management measures developed in response to actual market conditions.

To balance supply and demand and stabilise prices of essential goods and services, ministries, agencies and local authorities are required to closely monitor supply, demand and prices of energy, petroleum products, electricity and other essential goods within their respective areas of responsibility.

The Ministry of Industry and Trade is tasked with developing plans to ensure adequate supplies, facilitate the movement and distribution of goods between regions and localities, and implement market stabilisation measures within its authority. The measures are intended to prevent shortages, supply disruptions and unjustified price increases.

The ministry is also required to strengthen inspections of business and distribution activities and promptly detect and handle violations of regulations on pricing, competition and consumer protection.

Provincial and municipal authorities must direct relevant departments and agencies to review and assess local production, stockpiles, transportation, distribution and consumer demand. They are also required to develop plans to ensure sufficient supplies of essential goods and services for production and consumption during the remaining months of 2026 and the 2027 Tết (Lunar New Year) Holiday.

Authorities are expected to implement market stabilisation measures suited to local conditions and available resources, while strengthening coordination between provinces and cities to connect supply with demand and regulate the flow of goods. These efforts aim to maintain smooth distribution and prevent shortages, supply chain disruptions, speculation and hoarding that could lead to unjustified price increases.

The dispatch also calls for decisive measures to stabilise prices of key construction materials to ensure adequate supplies for major national projects and important local projects. Particular attention should be paid to goods whose prices have risen sharply and which have a significant impact on the CPI and people's living standards.

Authorities are further required to strengthen inspections, monitor implementation and regularly assess results to keep their local CPI from rising during the remaining months of 2026, thereby contributing to the country's overall inflation-control target.

Official Dispatch No 70/CĐ-TTg underscores the Government's determination to maintain macroeconomic stability and keep inflation under control, with average CPI growth targeted at around 4.5 per cent in 2026.

Achieving this target will require coordinated action across the political system, from central ministries and agencies responsible for policy management to local authorities overseeing implementation, as well as compliance with the law by the business community.

Effective implementation of the measures is expected to help maintain macroeconomic stability, safeguard social welfare and create favourable conditions for economic growth. 

Bizhub