Prices are kept stable in first seven months of 2023: report

The supply of essential goods was maintained with relatively stable prices during the first seven months of the year, reported the Ministry of Finance (MOF).

At a meeting of the Steering Committee for Price Regulation on August 3, ministries agreed with the MOF that the conditions have been met to consider adjusting the prices of some government-regulated goods and services at an appropriate time to curb inflation in line with the target while ensuring social consensus.

They stated that it is necessary to take advantage of the room allowed by parliament’s inflation target of 4.5% to implement price hikes as planned.

Speaking at the meeting, Deputy PM Le Minh Khai praised the efforts of ministries and local authorities in price regulation and asked them to follow global inflation developments closely and give prompt warnings on the risks that will cause domestic inflation.

He called for a sufficient supply of goods to meet consumers’ demand, especially for the year-end occasions and the Lunar New Year.

The Deputy PM also asked for the continued flexible implementation of monetary policy in combination with fiscal and other macroeconomic policies to keep inflation in line with the set target.