Vietnam deputy PM calls for closer price monitoring before year-end

Vietnam's deputy prime minister has instructed ministries and local authorities to prepare for unusual price movements during the remaining months of 2026, with particular attention to essential goods. He also warned against clustering changes to state-regulated prices near year-end or the Lunar New Year.

Deputy Minister of Finance Le Tan Can reported that October's consumer price index (CPI) increased 0.2% from September, largely because domestic fuel prices followed global prices higher. Over the first 10 months, CPI rose 4.57% from a year earlier and core inflation increased 4.24%.

The Finance Ministry's updated scenario puts average CPI growth for 2026 at 4.5–4.7%, Can said. The State Bank of Viet Nam has the same forecast, while international organisations project average inflation of around 4.2–5.5%.

Measures to contain price pressures include a 2% reduction in the average retail electricity price from November 1, 2026, and a cut in petrol excise tax to 0% until March 31, 2027. Authorities were asked to track input costs and selling prices before and after those changes.

The deputy prime minister called for assessments of how any state-regulated price changes would affect CPI and household affordability. He also sought stronger checks on pricing compliance, timely public information about supplies and prices, and strict action against stockpiling, speculation and price manipulation. Localities recording below-average CPI growth were told to maintain their price-management efforts.