Hanoi (VNA)– Prices tend to remain stable, even fall slightly in 2018, heard a workshop inHanoi on January 9 to review prices in 2017 and make forecast for 2018.
According to thePrice Management Department under the Ministry of Finance, with an increasing supplyof necessary goods thanks to higher domestic production capability, and signedfree trade agreements, Vietnamese people are enjoying an abundance of local andimported goods with more competitive prices.
Post andtelecommunication prices are expected to remain unchanged or fall slightly.Inflation rate is forecast to stand between 1.6-1.8 percent, while the exchangeand interest rates are under control, helping reduce costs for enterprises.
Nguyen TienThoa, Vice President and Secretary General of the Vietnam PriceEvaluation Association, highlighted the factors that might push up theinflation rate, such as credit and exchange rate extension, electricity priceadjustments, basic salary increase, consequences of natural disasters, andunpredictable epidemics.
He suggested addressingthe root of inflation while restructuring the economy, reforming the growthmodel, increasing productivity, quality and competitiveness, and stablising themacroeconomy.
Comprehensive measuresshould be devised to regulate the inflation rate right from the beginning ofthe year, such as ensuring goods supply in any circumstances, Thoa said.
Associate Prof. Dr. NgoTri Long, former head of the Ministry of Finance’s Price Management Institute, underlinedthe factors affecting prices in 2018, such as diseases, weather and climatepatterns, saying it will be a challenge to keep the inflation rate at 4 percent.
The inflation in 2018will suffer pressure from prices hikes of public services and foodstuffs, hesaid.
Long suggested enhancingprice stablisation to curb inflation, thus ensuring the target of stablisingthe macroeconomy while monitoring closely CPI developments for timelyadjustment.-VNA
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