The consumer price index (CPI) is projected to increase by between 3.5 percent and 4 percent this year (Photo: VNA) Hanoi (VNA) – The consumer price index (CPI) isprojected to increase by between 3.5 percent and 4 percent this year, accordingto experts at a seminar held in Hanoi on July 2, which focused on nationalmarket and price movements in H1 and forecasts for the whole year.
Assoc. Prof., Dr Nguyen Ba Minh, Director of the Instituteof Economics-Finance at the Academy of Finance said there are two factorspushing the CPI up in the second half, which are recovering prices of materialsand fuels after the pandemic is put under control, and the resumption ofproduction and international trade and exchanges.
Meanwhile, factors that could restrain the CPI include sloweconomic recovery due to pandemic, trade wars and political instabilities inmany areas in the world.
Besides, the prices of pork in the country are expected tosubside thanks to efforts to improve the supply of the food.
Vietnam has carried out preventive measures against theCOVID-19 pandemic, stabilised market prices, regulated currency policies formacroeconomic stabilisation and inflation control, thereby keeping the CPI stable,he added.
According to Dr Nguyen Duc Do, as inflation stood at 3.17percent compared to the same period last year, the target of keeping inflationunder 4 percent in 2020 will be possible.
He pointed out that the oil prices would not rise much asthe recovery prospect for the world economy is gloomy, while domestic porkprices are unlikely to surge in the coming time as the Government allowsimports of pigs. Therefore, he maintained the 3.5-percent projection for thisyear’s inflation./.
