The consumer price index (CPI) in May was at the highest level in the past six years, but the Government affirmed its capacity of controlling inflation, as heard at a press conference on the monthly cabinet meeting.

Scene at the press conference on the monthly cabinet meeting (Photo: baochinhphu.vn)

At the Government meeting that took place in Hanoi on June 2, Prime Minister Nguyen Xuan Phuc ordered not to increase electricity prices. He said adjustments to prices of education and health services should only occur in the proper time and conditions. 

He said well monitoring of fiscal and monetary policies is also need to make no pressure for price increases.

The meeting highlighted the need to keep track on building material market, particularly the management of steel prices and ensuring supply to meet demand.

The Government would continue examining BOT projects and completing negotiations with investors and banks, with a priority given to reducing BOT fees.

At the press conference, Deputy Minister of Industry and Trade Do Thang Hai stated under the Government’s direction, the Ministry of Industry and Trade, and the Ministry of Finance will use the petrol stabilisation fund and others to sustain minimum petrol price increases in 2018.

May’s CPI was 0.55 percent higher than that of April due largely to monthly increases in prices of transport services (1.72 percent) and food and catering services (0.88 percent).

Industrial production rose by 9.7 percent during the period. Public investment disbursement was at 28.7 percent of the yearly target, while attracting foreign investment was facing difficulties. 

Business climate improvement and administrative reform were yet to be implemented effectively, with a number of agencies showing no drastic response.-VNA