Vietnam CPI Likely to Rise Above 1% in Nov: Trade Ministry
Vietnam’s consumer price index (CPI) in Nov is expected to increase above 1% from October, driven by higher prices of various essential commodities at both local and global markets, the Ministry of Industry and Trade said.
The consumer prices went up continuously in the first 15 days of this month, the ministry said.
Prices of paddy rice are high at between VND5,500 and VND6,000 per kilo while husked rice are sold at VND9,000-VND11,000.
The National Center for Socio-Economic Information and Forecast under the Ministry of Planning and Investment has predicted that the CPI would rise 0.8% this month.
The center said local prices of goods and services, especially essential ones, will continue upward trend, citing strong dollar appreciation, higher global prices of commodities, and unfavorable weather conditions as major reasons.
Other year-end seasonal factors such as rising domestic consumption and more money supply will put pressures on the CPI, the center said.
The CPI rose 7.58% in the first ten months of this year, including a 1.05% rise in October.
The Government is striving to put inflation under control in the remaining two months, striving to curb the country’s full-year CPI at one-digit figure. (Countryside Today)
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