Vietnam’s consumer price index is forecast to have fallen 0.68 per cent on month in December for a third month on lower food, gasoline prices and construction materials, but up 22.97 per cent on year, the government-run General Statistic Office showed.
The government of Vietnam has cut benchmark interest rates to 8.5 per cent twice, slashed three retail prices of gasoline for three so far this month, in efforts to cut production costs to help expand exports and growth to lift the economy out of recession.
Food and food services prices are expected to have climbed 36.57 per cent on year but down 0.13 per cent on month. Rice and other foodstuff prices are expected to have risen 49.16 per cent on year, but fallen 2.36 on month.
Housing and construction materials costs are estimated to have increased 20.51 per cent on year but dropped 2.36 per cent on month.
Transportation costs have risen 16 per cent on year but fallen 6.77 per cent on month.
Apparels, footwear and hat have soared 10.33 per cent on year and slightly risen 1.01 per cent on month. Drinks and tobacco have increased 10.75 per cent on year, and been up 0.68 per cent on month. Medicines have been up 8.87 per cent on year and up 0.35 per cent on month.
The GSO’s subindex that measures prices in cities is estimated to have risen 22.8 per cent from a year earlier but fallen 0.66 per cent from November. Prices in rural areas are estimated to have increased 23.07 per cent on year but dropped 0.69 per cent on month.
The government usually issues CPI figures based on estimates before the end of the reporting period.
In Vietnam, gold prices are estimated to have risen 31.93 per cent on year and were slightly up 0.78 per cent on month. The GSO also said that by end-December, the U.S. dollar will have been up 2.35 per cent on year against the dong and up 1.14 per cent on month.
The State Bank of Vietnam, the country’s central bank, has decided to let the dong dip 3 per cent against the U.S. dollar today at VND16,989. (GSO Dec 25)
Vietnamese
