return icon Vietnamnet.vn

Expert believes inflation could fall below 4% this year

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.

Nguyen Thi Huong, general director of the General Statistics Office (GSO), unveiled this information during a press conference held on June 29 in Hanoi, adding that escalating prices of fuel and input materials, coupled with the rising price of electricity and water, has caused June’s CPI rise of 0.19% compared to the previous month.

She also attributed the six-month CPI increase to adjustments in the domestic price of petrol, thereby making the average price soar by 17.01% and the overall CPI increase by 0.61%.

An upturn could also be seen in the price of domestic gas, which rose by 16.51% against the same period from last year, while the price of education services throughout the reviewed period recorded an rise of 4.47%.

Meanwhile, the domestic price of rice witnessed an upward trend in line with the export price of rice, while a high demand for glutinous and plain rice during the Lunar New Year caused the price of rice during the reviewed period to increase by 6.97% on-year, making the overall CPI increase by 0.18%.

Elsewhere, housing and construction materials rose by 0.63% to push the general CPI up by 0.12%. The price of materials for housing maintenance surged by 1.26% to fall in line with the price of input raw materials and fuel.

However, there remains a number of factors which have curbed the CPI growth rate in the first half of the year. Notably, the price of food witnessed an annual fall of 0.39%, making the overall CPI decrease by 0.08%.

Following the deployment of bailout package from the Government for individuals and businesses impacted by COVID-19, the average price of electricity also dropped by 3.06%, resulting in the general CPI falling by 0.1%.

Moreover, the decline in people's travel and tourism demand due to the COVID-19 impact has also made the price of package tours plunge by 2.85% compared to the same period from last year.

Core inflation in June saw an increase of 0.07% over the previous month and 1.14% compared to last year’s corresponding period, fuelling the six-month core inflation to inch up by 0.87% from the same period last year.

Source: VOV

Many factors behind rising inflation

Many factors behind rising inflation

The 2020 Consumer Price Index (CPI) in Vietnam was contained at 3.23%, but which will be difficult to maintain at a target of 4% in 2021.

MORE NEWS

Da Nang City calls for investment

The Government will keep following reform policies in administrative procedure, legal environment, more transparency and publicity in creating trusts and confidence among businesses investing in VN and Danang with the win-win target.

Vietnam up 39 notches in quality of life index rankings globally

Vietnam has made great strides in improving its living standard as it jumped 39 notches in the global quality of life index rankings in 2021, revealed CEOWORLD, the world’s leading business and trade magazine.

Australian Foreign Minister begins Vietnam visit

Foreign Minister Penny Wong began a two-day visit to Vietnam on June 26 in an effort to further promote the dynamic partnership between the two countries.

Miss Grand International 2023 to be held in Vietnam

Vietnam will be the host country of Miss Grand International 2023.

Top legislator meets Deputy Speaker of Hungarian parliament

National Assembly Chairman Vuong Dinh Hue visited Albertirsa city on June 26 as part of his official visit to Hungary, where he was welcomed by Deputy Speaker of the Hungarian parliament István Jakab and city officials.

VIETNAM BUSINESS NEWS JUNE 26

Agricultural sector ensures food security, exports

Vietnamese become famous for gold-wearing ‘hobby’

The hobby of wearing gold all over the body has attracted the attention of the public, even foreign news sites.

Hue Festival 2022 opens with glamor show

The week-long Hue Festival 2022 was kicked off on June 25 evening by a unique art programme and Ao Dai (Vietnamese traditional gown) show.

Bach Long Glass Bridge - A news tourist attraction in Moc Chau

A glass-bottomed bridge named Bach Long (White Dragon) was recently inaugurated in Moc Chau and it has immediately become a new tourist attraction.

Vietnam among few countries totally re-open int’l tourism market

Vietnam is the only only Southeast Asian country that has reopened international tourism without any COVID-19 restrictions, the World Tourism Organization (UNWTO) said.

Foreign Ministry spokeswoman’s story of being a writer

Assistant to Minister of Foreign Affairs, Spokesperson of the Ministry of Foreign Affairs Le Thi Thu Hang says journalism not only means reporting information, but it also has the function of leading public opinion.

Another S.Korean airline resumes direct service to Khanh Hoa

An Air Seoul flight carrying 187 passengers from the Incheon international airport arrived at the Cam Ranh International Airport in Khanh Hoa Province on June 24.

Interest subsidy vs monetary loosening

Some recent reports have indicated that the monetary policy of the State Bank of Vietnam (SBV) is not in sync with the global trend.

Developers expect smoother LNG policy planning

In Vietnam, about 20 LNG-fired power projects are in the pipeline. Some of these programmes, however, have yet to identify a fuel source.
back_to_top