Vietnam's CPI to Rise More than 2.5 per cent in February
Vietnam’s consumer price index in February will rise 2.5 per cent-3 per cent on month, the Trade Center under the Industry and Trade Ministry predicted.
CPI has risen fast right from January, at 2.38 per cent, anticipating that the year 2008 will see the higher inflation rate than last year’s 8.3 per cent rise.
Statistics showed that every year CPI of February always increases faster than that of January, even doubling or tripling.
This year, prices of consumer goods, especially meats, seafood and vegetables, go up sharply before and after Lunar New Year, which falls in February again.
Prices of services also climb up during the festival.
Vietnam is taking measures to deal with the rising inflation. The State Bank of Vietnam said last Friday it would ask banks and credit institutions to buy VND20.3 trillion (US$1.26 billion) of one-year treasury bills in a bid to tame inflation.
It early February decided to raise base interest rate of Vietnam dong from 8.25 per cent/year to 8.75 per cent/year. (New Hanoi)
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