Prices of commodities usually rise towards the end of every lunar year, and it is left to the Party, government and all levels of central to local authorities, banking and economic sectors to yoke in the prices – the untamed horse.
Efforts to stockpile commodities
Le Ngoc Dao, Vice Director of the Department of Industry and Trade in HCMC stated that essential commodities such as eggs, rice and meat, were in plentiful supply. All the retail units have reserved up to 40percent of essential goods worth VND 5.5 trillion for supply during the Tet holiday season.
The city authorities, Saigon General Commerce Company and Saigon Coop Mart will organize mobile stores to deliver to workers’ and students’ dormitories and to poor suburbs, Ms. Dao said.
Truong Quang Hoai
In Hanoi, the total commodity value at the end of the lunar year is expected to be more than VND24 trillion, up by 20-21 percent against the same period last year, said Nguyen Van Cong, Vice Director of the Department of Industry and Trade. Thus
Subsidizing prices
Tighter control on inflation and maintaining steady prices on essential items towards the end of the year and during the coming holiday season were hot topics at yesterday's (Dec 1) regular Government meeting.
The country will continue to tighten monetary policies to limit this year's inflation rate as targeted, the local authorities have to raise production and ensure supplies meet demand, said Prime Minister Nguyen Tan Dung.
"Prices must be controlled and kept stable to avoid any "price fever," he said
He emphasized that bold measures must be taken by the ministries of Industry and Trade, and Agriculture and Rural Development to ensure sufficient supply of essential goods to meet the rising demands towards the end of the year and during Tet Lunar New Year.
CPI (Consumer Price Index) growth was only 0.39 per cent in November, the forth consecutive month showing an increase of less than 1 per cent. CPI in the first 11 months of this year increased by about 19 percent, compared to the same period last year.
This is a good sign; however economic experts raised the alarm that at present the prices are still high against incomes of majority of the people.
Besides storing essential goods for Tet holiday season, it is important for local authorities to constantly inspect and punish retailers who taking advantage of Tet to raise prices.
Consumers are also asked to remain vigilant and not heed to rumors and rush to buy gold, foreign currency and essential goods to avoid price hikes. They are advised to boycott bad traders and shops that sell items at high prices and instead shop in supermarkets that are implementing the price subsidized program.
