Hanoi launches price stabilization programme for essential goods in 2022

Hanoi has just issued a plan on implementing a price stabilization programme covering essential goods in 2022.

Hanoi has just issued a plan on implementing a price stabilization programme covering essential goods in 2022.

The programme aims to ensure balanced supply-demand of goods, stabilize the market and meet the needs for essential goods in the storm season, holidays, the last month of 2022, the solar and lunar new year festivals and times of unpredicted diseases.

Under the programme, the city will help participating production and business establishments gain access to preferential capital so that they can make plans on goods supply.

Besides, there will be more commodities subject to the programme in connection with the drive of “Vietnamese to prioritise the use of Vietnamese goods,” hence curbing price hikes, controlling inflation and stimulating production and trading activities.

Commodities subject to the price stabilization programme comprise staple foods (rice, noodles, meat, seafood, eggs..), processed food, sugar, cooking oil, condiments (fish sauce, salt..), milk (liquid and powder milk), confectionaries, wines, beers and other beverages, along with goods used in the prevention and control of natural disasters and diseases.

The programme also encourages enterprises to increase investment in developing and diversifying distribution networks so that goods can be delivered to consumers quickly,

Production and trading establishments participating in the programme will be given support in the form of facilities, preferential capital, and priority in selling goods to schools, hospitals and shops in the city.

The municipal People’s Committee also asked participating businesses to promote online sales. The city will enhance linkages with other localities to secure more goods supply to meet demands in the city.

The plan said the municipal People’s Committee and relevant departments and agencies will make forecast on the market and prices of agricultural products on a monthly basis or food crops.

The plan will be implemented from now to the end of May next year.

Vietnam’s consumer price index (CPI) in the January – June period rose by 2.44% year-on-year while its core inflation edged up 1.25%, according to the General Statistics Office (GSO).

The CPI was up 2.96% in the second quarter, and 3.37% in June alone, compared to the same periods last year.

GSO General Director Nguyen Thi Huong attributed the CPI hike to the increase in prices of essential consumer goods and services, materials for production and transportation costs.

According to the GSO, the world commodity market in the January – June period continued to witness many fluctuations and was influenced by economic and political factors.

Hanoi’s consumer price index (CPI) rose by 3.04 percent in the first five months of 2022 against the same period last year, according to the municipal Statistics Office.

In May alone, the city’s CPI increased 0.3 percent from the previous month, and 3.79 percent year-on-year.

Ten out of the 11 commodity groups posted increased prices in May.

(Source: VNA)