Power prices in Vietnam will be kept unchanged through the end of this year in an attempt to control consumer prices in the country, a finance ministry official has said.
Coal prices for the power sector will also be stabilized during this period, Nguyen Tien Thoa, head of the Price Management Department under the Ministry of Finance, said in a report published Saturday by local news website VietNamNet.
According to the department, the prices of many products and materials that have to be imported, including fuel, steel billet and plastic, have surged sharply, putting pressure on prices of consumer goods.
Another factor that has a huge impact on the prices is a 6.8 percent increase in retail electricity prices in March, the department said.
Consumer prices climbed 9.05 percent in May from a year earlier, according to the General Statistics Office. The consumer price index of the first five months rose 4.55 percent compared to December last year.