Cpi

Inflation was kept at 2.58 per cent in eight months of this year, easing pressure on input costs. — VNA/VNS Photo Though inflation was under control in the past eight months, the economy still poses risk to the consumer price index (CPI) in the remaining months of this year and next year, said Director General of the General Statistics Office of Viet Nam (GSO) Nguyen Thi Huong. In an interview recently granted to Vietnam News Agency, Huong said amid inflation in many countries worldwide due to the prolonged Russia-Ukraine conflict, the COVID-19 pandemic and disrupted supply chains, the Vietnamese Government took drastic measures to reduce petrol prices, stabilise electricity and water prices and tuition fees, and maintain reasonable interest rates. As a result, inflation was kept at 2.58 per cent in eight months of this year, easing pressure on input costs. The Government, ministries and agencies directed localities to manage prices while a number of firms actively joined the … [Read more...] about Official points out risks to CPI during year-end period

In an interview recently granted to Vietnam News Agency, Huong said amid inflation in many countries worldwide due to the prolonged Russia-Ukraine conflict, the COVID-19 pandemic and disrupted supply chain, the Vietnamese Government took drastic measures to reduce petrol prices, stabilise electricity and water prices and tuition fees, and maintain reasonable interest rates. As a result, inflation was kept at 2.58% in eight months of this year, easing pressure on input costs. The Government, ministries and agencies directed localities to manage prices while a number of firms actively joined the price stabilization program to ensure the supply of necessities to people, especially food. Pointing out risks that could potentially impact CPI during the remainder of this year and next year, Huong said the global material prices remain high which could push up prices of consumer products at home, thus exerting pressure on inflation. The fuel prices are also likely to hike again due to … [Read more...] about Official points out risks to CPI during year’s end

The petrol price in the domestic market was revised down last week, marking the 22nd revision so far this year, which have included 13 increases. The three cuts in August lowered petrol prices by 14.52 per cent and diesel oil prices by 12.9 per cent compared to July, leading to a 5.51 per cent fall in the price index of the transport services. Illustrative image (Photo: VNA) In Vietnam, the selling fuel prices are implemented under the market mechanism under the state’s regulation and in line with the world’s fuel prices and the nation’s socioeconomic situation in each specific period, according to Decree No.83/2014/ND-CP, which was issued eight years ago. According to the General Statistics Office (GSO), the continued reduction of petrol prices has contributed to easing the inflation pressure significantly in the coming time, should there will be no resumed increase in such prices. The inflationary pressure subdued remarkably in August thanks to the government’s … [Read more...] about Ongoing inflation worries compel tightened focus

A Petrolimex gas station prepares for the listing of new petrol prices.Economist Can Van Luc said CPI is highly sensitive to fuel prices (photo: VNA) Hanoi (VNS/VNA) – Vietnam’s economy has a positive outlook for 2022 despite the emergence of Omicron sub-variants, global geopolitical tensions and mounting input costs , according to Nguyen Quoc Viet, deputy head of the Vietnam Institute for Economic and Policy Research. He was speaking at the workshop "Inflation in 2022: Impacts and policy recommendations" held on September 16. Viet said inflationary pressures have begun to build up but the situation is under control so far. Eight-month Consumer Price Index (CPI) rose by just 2.58% year-on-year, well under the target of 4%. GDP growth hit 7.7% in Q2, the highest quarterly growth in ten years. Eight-month Index of Industrial Production was 15.7% higher than the same period in 2021. Exports fared quite well amid the global trade downturn with an eight-month revenue of … [Read more...] about Bright outlook for economy despite challenges

Illustrative photo However, there still lie difficulties and obstacles in speed of disbursement of this support package. In a talk with Saigon Investment, Dr. Nguyen Tri Hieu, a financial expert, discussed this issue further in more detail. JOURNALIST: - Sir, recently the subject of credit limit has become a hot topic, therefore what are your views on this issue? Dr. Nguyen Tri Hieu: - More than ten years ago, the credit growth of the banking system was very strong, with some banks growing up to 100 percent, as in 2009. This led to the situation where credit was pouring into speculative assets and risky financial investments, which caused serious consequences for the economy. As a result, bad debts still have not been resolved to date. From lessons learnt by this experience, the State Bank of Vietnam began applying credit limit for more than ten years. Consequently, credit has become strictly controlled and banks use credit for better beneficial purposes for the growth and … [Read more...] about Obstacles in disbursement of support package

Illustrative image (Photo: Xinhua/VNA) Singapore (VNA) - Singapore's core inflation rose 5.1% in August to a nearly 14-year high, driven mainly by stronger increases in the prices of food and services. This is higher than the 4.8% in July, and marks its highest level since it touched 5.5% in November 2008. Last month, the nation’s headline consumer price index ( CPI ) or overall inflation came in at 7.5%, matching the 14-year high in June 2008. In July, it touched 7%. The jump mainly reflected higher transport inflation, bigger holiday expenses, steeper hikes in housing rentals, and more costly food and services. For the full year, the headline inflation forecast remains unchanged at between 5-6%, while core inflation is projected to average between 3-4%, said the Monetary Authority of Singapore (MAS) and Ministry of Trade and Industry (MTI) last week./. VNA … [Read more...] about Singapore’s core inflation posts 14-year high