Update news CPI
Although the price of petrol has fallen since July 11, several business associations and agencies proposed reductions in taxes and fees to support businesses because of unpredictability and fluctuations in gasoline prices.
The petrol price hike has led to price escalations of major goods and services, forcing low-income earners to tighten their belts.
The building of an independent and self-reliant economy associated with extensive international integration needs to start from businesses, especially private ones, in order to increase resilience and improve internal forces.
If inflation cannot be controlled and Vietnam has to use a “high-dose drug”, such as an interest rate increase, serious consequences may occur.
It will be a challenge to keep Consumer Price Index (CPI) growth under 4 percent this year, according to an economist.
If petrol and DO prices continue to stay high, transport firms may have to reduce services and routes, or stop operation temporarily.
Vietnam’s consumer price index (CPI) in January edged up by 0.19% month-on-month, fueled by high consumer demand for the upcoming Lunar New Year or Tet, according to the General Statistics Office.
Despite facing various difficulties, it remains entirely possible to be optimistic about the outlook for foreign investment attraction moving into 2022, with many commitments regarding investment in major projects being made by foreign investors.