09:19 | 06/04/2018 Economy- Society
Deputy Prime Minister Vuong Dinh Hue, who is also head of the National Steering Committee on Price Management, has asked for more efforts to keep core inflation at between 1.6-1.8 percent in the remaining months of 2018.
|Deputy PM Vuong Dinh Hue has asked for more efforts to keep core inflation at between 1.6-1.8 percent in the remaining months of 2018 - Photo: VGP|
Core inflation is the CPI exclusive of fresh food, energy and State-run health and education services.
Under a recent guidance of the Deputy Prime Minister, the State Bank of Vietnam (SBV) was requested to manage monetary and fiscal policies to ensure inflation control targets.
The central bank needs to control currency supply and balance foreign currency sources from foreign investment, while controlling the total credit in terms of both structure and quality.
It was also urged to take measures to stablise exchange and interest rates.
The Ministry of Industry and Trade (MoIT) will work with the Ministry of Finance to manage domestic petroleum prices via the reasonable use of the price stabilisation fund, thus stablising the price of the commodity.
The MoIT will be responsible for managing power price in line with the price management scenario in 2018.
It is forecast that the next nine months, price increase pressure will come mainly from market-related factors such as the price recovery of petroleum and key materials in the world market, and the implementation of market price roadmap for public services such as health care, education and those using State budget.