Analysts have warned that inflation in Vietnam has yet to reach its peak so the Ministry of Finance has closely monitored price movements and prepared to cope with inflation since the beginning of the year.

Localities and the ministry’s Price Management Department reported that the supply of goods met people’s demand for the Tet (Lunar New Year) holiday and prices were kept under control, in line with the price management scenario mapped out by the Steering Committee on Price Management prior to Tet.

At many traditional markets in Hanoi, the supply of goods and prices after Tet were both stable.

Many supermarkets resumed operations early or even operated throughout the holiday to meet demand, thus helping prevent goods speculation, hoarding, or scarcity and sudden price hikes.

Vietnam’s CPI rose 0.52 per cent in January against December, according to the General Statistics Office. The increase was fueled by higher consumption demand during Tet.