The preliminary figures show that consumer price index (CPI) in Vietnam rises on month at only 1.5 per cent in July, the slowest pace in a single month so far this year, said Bui Xuan Khu, Deputy Minister of Industry and Trade.
This is the second consecutive month the CPI has gone down fast, thanks to the government&rsquos anti-inflation measures, he said.
The trade deficit in July is estimated at below US$1 billion because of the limit in export of luxury items, including automobiles.
The ministry fore that Vietnam may reach the target to maintain trade deficit below US$1 billion a month by the of this year, but it will not be able to curb inflation due to the gasoline price hike on July 21, Khu said.
The consumer prices in two biggest cities, Hanoi and Ho Chi Minh City, were also rising at a much slower pace in July than June.
The CPI in Hanoi is estimated to have risen 1.56 per cent on month in July, slowing from the 2.39 per cent rise in June, while the index in Ho Chi Minh City rise 0.54 per cent this month, compared with a 2.37 per cent increase last month.
Prices of foods in Ho Chi Minh City, Vietnam&rsquos largest city with population of eight million people, fell 1.39 per cent in July from a month earlier, lower than 1.77 per cent in June.
However, food prices in Hanoi edged up 2.72 per cent in July.
According to the General Statistics Office, Vietnam&rsquos CPI rose 2.38 per cent on month in January, 3.56 per cent in February, 2.99 per cent in March, 2.2 per cent in April and 3.91 per cent in May and 2.14 per cent in June. (Laborer, Vietnam Economic Times)
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