Topic: Factors

Deputy Prime Minister Le Minh Khai chaired a meeting on October 13 with the Price Management Steering Committee to evaluate results in the first nine months of this year and the first half of October and to establish priorities in the months to come. Factors affecting price management, he said, include some tax support policies expiring at the end of the year, the speed of public investment disbursement increasing, demand for consumer goods, especially in food and consumer goods, rising sharply as Tet approaches, and the lingering impact of natural disasters and the pandemic.

Prices of oil, gas, and related products in Vietnam are influenced by both domestic and external conditions.

Inflationary pressure will persist until the end of the year and even into the beginning of 2023, analysts believe. The main cause is cost-push, with monetary factors a secondary cause. Minimizing the negative impact of rising raw material, gasoline, and food prices will determine the effectiveness of inflation management.