Inflation to Hit Two-digit Level This Year
Vietnam’s consumer price index (CPI) will soar to two-digit level by the end of this year after the country decided to increase gasoline prices, local Thanh Nien newspaper reported on November 27.
General Statistics Office (GSO) said the CPI in November rose 1.23 per cent from October, twice higher than the rise of last November.
Consumer good prices inflated 9.45 per cent over the first 11 months of this year, or 1.5 times higher than the rise of the same period last year.
The CPI for the whole year will surely surpass the country’s GDP growth, meaning that Vietnam will not reach the target to rein inflation below the economic growth, the newspaper said.
If December’s CPI increases at the rate of last year’s same period, or 0.5 per cent, it will rise approximately 10 per cent for the whole year, representing the fastest rise over the past ten years.
The CPI has been reined below one-digit level since 1996, it will hit two-digit level this year, the newspaper concluded. (Young People, Saigon Marketing)
Vietnamese
