HANOI, March 19 (Xinhua) -- Vietnam is considering a series of price measures to curb inflation hike, local newspaper Vietnam News reported Wednesday.

    Under a proposal of the Vietnamese Ministry of Industry and Trade, firms trading essential goods such as oil, gas, steel and iron should be allowed to set their own prices if they commit to stabilize prices at least in one quarter to come.

    Companies operating in petroleum, steel, iron, cement, medical and fertilizer industries should report their pricing strategies to the relevant state bodies.

    State agencies should control prices of products of large firms defined as holding a 30 percent market share. Companies violating the price measures will have to face the temporary revocation of their operating licenses.

    Vietnam reported the consumer price index (CPI) of 15.67 percent in February, the highest in more than a decade, according to the General Statistics Office.