Vietnam tightens price oversight as officials seek to curb year-end inflation

Deputy Prime Minister Nguyen Van Thang has directed ministries, agencies and local governments to strengthen surveillance of domestic and international supply-demand dynamics and market pricing, with particular attention to commodities that heavily influence consumer price indices.

The government is focusing oversight on essential inputs including fuel, food, fertilisers, animal feed and construction materials—sectors where price swings can ripple through the broader economy. Officials are implementing five coordinated measures to manage prices and maintain inflation within target parameters as the country heads into the final months of the year.

The push for tighter price discipline follows government moves to ease fuel costs. Vietnam has eliminated fuel taxes entirely, reducing petrol prices by up to 1,800 Vietnamese dong per litre. Separately, the National Assembly is examining proposed amendments to the Electricity Law designed to establish more reasonable and transparent power pricing mechanisms.

The multi-pronged approach reflects authorities' determination to keep inflationary pressures in check while ensuring price mechanisms remain stable and predictable for consumers and businesses across the economy.