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.
The prices of goods and services have begun escalating following a shocking hike in petrol price, reaching a 7-year high, announced by petroleum distributors on October 25.
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.
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.
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.
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.