The sharp increase in gas prices recently will surely affect the speed of economic recovery and increase prices of goods.

The Consumer Price Index (CPI) for the first eight months of 2021 picked up 1.79 percent year-on-year, the lowest increase for the same period since 2016, the General Statistics Office (GSO) announced on August 29.

Vietnam looks to maintain a Consumer Price Index (CPI) growth lower than 1 per cent a month during the last quarter of 2021 in an effort to keep inflation under the 4 per cent target for the year, 

The consumer price index increased by 1.64% in January to July period, the lowest rate since 2016, with lower food and electricity prices after Government efforts to stabilise prices and support virus-hit citizens and enterprises in the pandemic.

If Vietnam could control inflation cautiously and proactively, the CPI for the whole of 2021 would rise by below 3 per cent, said an expert in Hanoi last week. 

The reported CPI only reflects 60-70 percent of the real situation, according to the former Chair of the Hanoi Supermarket Association Vu Vinh Phu.

On the back of reopening global economies and a rising crude oil price, Vietnam’s inflation target for 2021 may be harder to achieve, with regulating government bodies attempting to manoeuvre through the year while keeping inflation pressure at bay.

Vietnam’s consumer price index (CPI) in the first half of 2021 grew 1.47% compared with the same period last year, the lowest rate since 2016, according to the General Statistics Office.

With the consumer price index (CPI) increasing by 1.47% during the first half of the year, the lowest rise since 2016, it remains entirely feasible for the country to keep inflation below 4% this year.

The country’s consumer price index (CPI) in the first five months of the year grew 1.29% year-on-year, the lowest for the period since 2016, according to the General Statistics Office.

Vietnam’s consumer price index (CPI) in May was up 0.16 percent agaisnt April and 2.9 percent from last year, reported the General Statistics Office (GSO) on May 29.

A GDP growth of 5.8% in 2021, nearly double the 2.9% growth last year, would boost credit demand.

Due to the complicated Covid-19 situation, MOF has written to the governments of provinces and cities asking them to enhance price stabilization and management following Deputy PM Le Minh Khai’s directive on price governance in 2021.

Vietnam’s consumer price index (CPI) is set to average 2.89% in 2021, below the government’s target of 4%.

Retail petrol prices rose from 3pm on March 27 following the latest review by the Ministry of Industry and Trade and the Ministry of Finance.

Vietnam’s economy with high level of openness could be susceptible to rising inflation as a result of growing global commodity prices.

The National Centre for Socio-Economic Information and Forecasting (NCIF) has released a forecast on Vietnam’s economic performance in 2021, with GDP growth of 6.72 percent and CPI of 4.2 percent under an optimistic scenario.

Despite suffering a slowdown in production and business activities as a result of the impact caused by the novel coronavirus (COVID-19) pandemic, the Vietnamese economy enjoyed positive annual growth of 2.91% in 2020, according to economic experts.

The gross domestic products (GDP) of Vietnam grew 2.12 per cent in the first nine months of this year, the lowest nine-month growth rate in the 2011-2020 period, the General Statistics Office said.

With huge inflation pressure on the way in the remaining months of this year, a close watch must be kept on the prices of key products like oil and pork to hit the goal of keeping inflation below 4 per cent, experts have said.