Efforts needed to curb price hikes following salary increases

A salary policy reform is scheduled to be implemented from July 1, with the average salary of officials, civil servants, and public employees expected to increase by about 30 per cent, including basic salary and allowances.

Notably, those working in the education and health sectors are likely to enjoy a higher salary than the average salary.

Efforts needed to curb price hikes following salary increases
Elderly people in Ho Chi Minh City receive pensions at district post offices - Illustrative image (Source: VNA)

This is a significant increase compared to the average annual rise of 7 per cent before the salary reform was implemented.

However, wage increases will only be truly meaningful when commodity prices are strictly controlled and the rises do not create inflation.

In a recent meeting of the Price Management Steering Committee, Deputy Prime Minister Le Minh Khai, who is also head of the committee, requested not to have unreasonable price increases after the salary is raised.

To stabilize the market, it is necessary to ensure the smooth supply and circulation of goods to meet consumption needs and check price listings at traditional markets, Khai stressed.

He asked ministries, sectors, and localities to propose appropriate solutions and scenarios and coordinate well with each other to prevent prices of goods, especially essential products, from rising.

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(Source: VNA)

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