Prices of several essential goods forecast to rise in 2020

Friday, 2020-01-03 17:12:34
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Prices of pork, healthcare, education and land are predicted to continue to rise in early months of 2020. (Illustrative image)
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NDO – The prices of a number of essential goods and services are forecast to increase in 2020, putting significant pressure on curbing inflation below the 4% goal set by the Government.

The forecast was made at a seminar on Vietnam’s price movements in 2019 and forecasts for 2020 held by the Institute of Economics and Finance and the Price Management Department (Ministry of Finance) in Hanoi on January 3.

The event attracted the participation of representatives from the Finance Ministry, the Ministry of Industry and Trade, economic research institutes, and economic experts.

Experts discussed price movements in 2019 and made forecasts to exert pressure on controlling inflation in 2020.

Several factors pushed prices high in 2019, including the prices of fuel, pork, healthcare services, education, and real estate. Meanwhile, two key factors contributing to curbing CPI were the increasing domestic supply of essential commodities and the stable monetary policy.

Price management is said to be the key factor to help Vietnam keep inflation below 4% in 2020.

Deputy Rector of the Institute of Economics and Finance, Nguyen Duc Do, said that the goal of keeping inflation below 4% in 2020 will depend much on the prices of pork.

The Price Management Department said that the prices of pork, healthcare, education and land are predicted to continue to rise during the early months of 2020. Thus, the price management and inflation control should be implemented in a prudent, flexible and active manner.