CPI increases by 0.23 percent in August
25/08/2010 09:16 am
CA/HCMC - The consumer price index increased by 0.23 percent over the last month,
after increasing only 0.06 percent, the lowest rise for the past six
years, according to the General Statistics Office.
The August increase led to the rise in the first eight months of the year by 5.08 percent over 2009 and an 8.61 percent increase year-on-year.
Ten out of 11 commodities used to calculate the CPI increased by between 3 percent and 16 percent. Only post and telecom services decreased, by nearly 0.4 percent.
Experts predicted that low increases would be difficult to be maintained, but the rise would be stable at 0.2-0.3 percent.
The Government’s adjustment in the exchange rate between VND and USD and the increase in price of petroleum in the country were reasons for the rise of the August CPI.
However, experts warned that prices would increase sharply late in the year due to an increase in demand during the New Year festival. In addition, the increase in prices in world markets, high bank interest rates, natural disasters and epidemics would be challenges to the country’s targets of inflation control.
To reach the goal of controlling CPI for the whole year at 7-8 percent, the Government has asked ministries, sectors and localities to continue measures to curb inflation and hold down price hikes, focusing on examining prices, bank interest rates and foreign exchanges./.
The August increase led to the rise in the first eight months of the year by 5.08 percent over 2009 and an 8.61 percent increase year-on-year.
Ten out of 11 commodities used to calculate the CPI increased by between 3 percent and 16 percent. Only post and telecom services decreased, by nearly 0.4 percent.
Experts predicted that low increases would be difficult to be maintained, but the rise would be stable at 0.2-0.3 percent.
The Government’s adjustment in the exchange rate between VND and USD and the increase in price of petroleum in the country were reasons for the rise of the August CPI.
However, experts warned that prices would increase sharply late in the year due to an increase in demand during the New Year festival. In addition, the increase in prices in world markets, high bank interest rates, natural disasters and epidemics would be challenges to the country’s targets of inflation control.
To reach the goal of controlling CPI for the whole year at 7-8 percent, the Government has asked ministries, sectors and localities to continue measures to curb inflation and hold down price hikes, focusing on examining prices, bank interest rates and foreign exchanges./.
Source: Vietnam+
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• Business Confidence Index increases in Q3 (19/12/2011)
• Industrial production index up 6.9 percent in first eleven months (30/11/2011)
• CPI increases by 0.23 percent in August (25/08/2010)
• Vietnam’s economy likely to grow 6.5-6.8 percent (03/07/2010)
• Real-estate developer increases investments (22/01/2009)
• Central Highlands records GDP growth of over 13 percent (30/12/2008)
• Vietnam, Myanmar trade turnover up 21.3 percent this year (19/12/2008)