Vietnam’s consumer price index in April is estimated to have risen 0.35 per cent on month and been capped at the single digits of 9.23 per cent for the first time so far this year, the government’s General Statistic Office said on April 23.
Slight CPI hike in the month is a positive sign of Vietnam’s economy out of deflation, and CPI slowed for the eighth month, the lowest pace since September 2007, analysts said.
The CPI hike in the month is attributed to retail gasoline prices hikes twice in the month, they said.
Food and food services prices are expected to have been down 0.43 per cent on month, but still up 14.01 per cent on year. Rice is expected to have surged 0.03 per cent on month and up 16.88 per cent on year while foodstuff up 0.46 per cent on month and up 10.73 per cent on year.
Transportation and post costs have been up 0.48 per cent on month and down 6.49 per cent on year as Vietnam hiked retail gasoline prices twice this month.
Housing and construction materials costs are estimated to have increased 0.45 per cent on month and 0.93 per cent on year.
Apparels, footwear and hat are estimated to have soared 0.2 per cent on month and risen 10.33 per cent on year. Drinks and tobacco increased 0.45 per cent on month and 11.42 per cent on year. Medicines are to have been up 0.24 per cent on month and 8.02 per cent on year.
Cultural, sports and recreation services are estimated to have been down 0.64 per cent on month but up 6.67 per cent on year. Domestic appliances prices have been up 0.28 per cent on month and 10.34 per cent on year.
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 1.4 per cent on month and 7.98 per cent on year while the U.S. dollar is estimate to have strengthened against Vietnam dong 1.25 per cent on month and up 11.21 per cent on year.
In urban areas in Vietnam, CPI is estimated to have risen 0.35 per cent on month and 9.93 per cent on year while CPI in rural regions was down 0.35 per cent on month and 8.69 per cent on year.
Prime Minister Nguyen Tan Dung told a global investment conference in Hong Kong early this week that Vietnam’s economy could grow 5 per cent to 5.5 per cent and inflation will be capped at 6 per cent this year. (GSO March 2009)
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