HCM City Targets CPI to Rise Below 7% in 2010
Ho Chi Minh City targets to limit the consumer price index to 7% at most in order to control inflation and stabilize the economy, the municipal Department of Industry and Trade said at a meeting in Jan 22.
The city will conduct more inspections of goods distribution and storage to stabilize the market and in particular ensure no goods shortage or price hikes occur before and after Tet.
In January, the city’s CPI is estimated to have soared 1.27% from December of 2009, driven by higher costs of foodstuffs and services as Lunar New Year festival is approaching. The index was up 9.05% from a year earlier.
The city’s CPI index rose 7.71% in 2009. (VNS)
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