Hanoi stabilises market prices to ring in New Year
Authorities will monitor fluctuations in supply and demand and update price management scenarios accordingly. Plans are in place to ensure a balance between supply and demand, preventing shortages or disruptions that could trigger sudden price hikes, especially for regulated goods and essential items with increased demand during year-end, holidays, and Tet celebrations.
The People’s Committee of Hanoi has recently issued a document outlining measures to stabilise prices across the city during the final months of 2025.
Under Document No. 5131/UBND-KT, the committee instructed relevant departments and the People's Committees of communes and wards to strengthen timely and transparent communication regarding price developments and management efforts.
The committee laid stressed on essential materials and everyday goods crucial to production and residents’ livelihoods. The aim is to curb inflationary expectations and stabilise consumer and business confidence.
Authorities will monitor fluctuations in supply and demand and update price management scenarios accordingly. Plans are in place to ensure a balance between supply and demand, preventing shortages or disruptions that could trigger sudden price hikes, especially for regulated goods and essential items with increased demand during year-end, holidays, and Tet celebrations.
They are tasked with either executing their authority or advising higher authorities on appropriate countermeasures and contingency plans. This approach seeks to improve the quality and effectiveness of price analysis and market forecasting.
Market supervision will be intensified to enforce compliance with price declaration and display regulations. Authorities will strictly penalise unfair price increases or illegal surcharges added beyond declared prices. Coordinated efforts will continue to manage and stabilise prices in line with each sector’s responsibilities, with a special focus on combating smuggling, commercial fraud, counterfeit goods, and poor-quality products.
The city is also enhancing digital transformation in price management. Improvements will be made to electronic systems for price declaration and processing—including online public services, price databases, and electronic declaration platforms—to ensure accessibility and ease of use for organisations and businesses fulfilling their reporting obligations.
Price data will be updated regularly in the city’s Price Database to ensure accuracy, timeliness, and consistency. Data sharing among relevant agencies will be expanded to support efficient price control and forecasting.
For State-regulated goods and public services undergoing market-oriented reforms, particularly in education and healthcare, specialist departments will proactively calculate and prepare adjustment plans. Price changes will be made promptly under authorised powers or submitted to higher authorities for consideration, aligning with market conditions and inflation control targets./.