“In the whole year of 2021, we will definitely achieve the target set by the National Assembly, the CPI for the whole year will be around 2%. By 2022, the world and the country can achieve herd immunity, causing the economy to recover strongly, and at the same time, it will put great pressure on inflation,” emphasized Deputy Minister of Industry and Trade Do Thang Hai at the Government’s regular press conference in October 2021.

Answering reporters about the impact of the increase in the price of raw materials in the world such as gasoline, coal on Vietnam’s inflation and goods supply, Deputy Minister of Industry and Trade Do Thang Hai said, it is good to see that in the coming months. By the end of 2021, Vietnam has initially controlled the epidemic, and localities have also eased the distance.

However, many commodities, especially the price of raw materials in the world such as gasoline, coal, including transportation costs, not only increased but also increased very high. That will directly affect CPI (inflation). CPI in October decreased by 2% compared to the previous month, increased by 1.67% compared to December 2020, increased by 1.77% over the same period. In the first 10 months of 2021, CPI increased by 1.81% over the same period – this is the lowest increase since 2016, core inflation increased by 0.84% ​​over the same period.

In the whole year of 2021, we will definitely achieve the target set by the National Assembly, the CPI for the whole year will be around 2%. Entering 2022, the world and the country can achieve herd immunity, causing the economy to recover strongly, and at the same time will put great pressure on inflation.

Certainly, the increase in prices of commodities such as gasoline, coal, etc. will affect the cost of production, and the cost of production will also increase, causing the price of domestic consumer goods to rise, directly affecting people’s lives. population, affecting the competitiveness of Vietnamese enterprises when we export to other countries.

In order to handle these issues, right from the beginning of the year, the Government has directed very strongly, many ministries and branches have stepped in and in our opinion has been effective and effective to reduce the pressure of increasing prices. . For petroleum products, the Ministry of Industry and Trade – Finance has flexibly and effectively used the price stabilization fund. From the beginning of the year to now, the world price of petrol has increased by 59.08-76.03%, however, because of the stabilization fund, the domestic petrol price has only increased by 40.23-52.59%. Although this is still a very high increase and directly affects businesses and people, it is also an effort and effort of the inter-ministerial and government.

With electricity, we have 5 rounds of price reduction support in 2020-2021, the total amount of support is up to 16,650 billion VND. Although, according to Decision 24 of the Prime Minister, when the price of input items increases, electricity prices can be adjusted, but the Ministry of Industry and Trade and related ministries have reported to the Government so that in 2021 there will be no increase in electricity prices. . The adjustment in the near future will have to be calculated according to the actual situation.

“In the near future, we think that it is necessary to have some key solutions to control inflation and ensure the supply of goods” – Deputy Minister said.

Firstly, we must continue to closely monitor prices, developments and inflation in other countries in the world, so that we have timely references to assess risks affecting prices and inflation in Vietnam. Male. In particular, it is necessary to assess which materials are likely to be short-term temporarily or in the long-term in the country, so that appropriate reciprocal policies can be made.

Second, it is necessary to prepare conditions to promote production and business, to ensure the supply and circulation of goods, to reduce inflationary pressure, to have timely, clear and accurate information on the policies of the Government. operating direction of the Government and ministries, branches and localities, in order to eliminate false information about market prices, and prevent psychological inflation from occurring.

Third, it is forecasted that the price of raw materials in the world will continue to increase in the near future, it is necessary to make efforts to negotiate to get the source of raw materials through strengthening cooperation from the Government level to the ministries and branches to support the supply of raw materials. supporting businesses, signing long-term import contracts of raw materials to ensure input materials, stabilize production, thereby controlling inflation as well as ensuring minimal impact on people’s lives, production business output of the enterprise.

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