The nine-month CPI increases by about 2.52 percent from the same period of 2018, a very low figure compared to those in recent years, according to the General Statistics Office (Photo: VNA) Hanoi (VNA) – The SteeringCommittee for Price Management held a meeting in Hanoi on September 27, duringwhich Deputy Prime Minister Vuong Dinh Hue said that if there are no unexpectedfactors, this year’s inflation can be kept at around 3.3 – 3.5 percent.
The committee reported that in Q3, the consumerprice index (CPI) has posted month-on-month growth, 0.18 percent in July, 0.28percent in August and 0.32 percent in September. However, the pace was stillslower than forecast, creating more room for controlling this year’s inflationwithin the limit of 4 percent set by the National Assembly and Government.
Drivers of the CPI expansion this quarterinclude pork price hikes due to a supply decline as a result of the Africanswine fever epidemic, and medical service prices aligned with the basic wageincrease.
The General Statistics Office estimated that thenine-month CPI increases by about 2.52 percent from the same period of 2018, avery low figure compared to those in recent years.
The core inflation between January and Septemberinched up around 1.91 percent year on year.
Prices of oil and petrol, which have majorimpact on other goods, have climbed 6.14 – 17.46 percent since the beginning of2019, lower than the rises of 8.6 – 23.7 percent in the global market.
Noting complex changes in global prices thisyear, Deputy Minister of Industry and Trade Do Thang Hai said petrol priceswill increase in the time ahead, adding that his ministry will coordinate withthe Ministry of Finance to align domestic prices with those in the globalmarket, but in a way that will not affect too much economic activities andconsumers.
Nguyen Van Viet, Director of the PlanningDepartment under the Ministry of Agriculture and Rural Development (MARD), saidthe growth in production value of aquaculture and crop farming has helpedstabilise prices amidst the impact of the African swine fever on animalhusbandry.
The pig herd has shrunk by 17 – 18 percent, butthe output and value has dropped by only 9 percent. Meanwhile, the output ofbeef, poultry, milk and egg has increased, making up for the decreasing pigfarming.
The MARD forecast a “not big” shortage in porksupply in the next three months, about 4 – 5 percent or 200,000 tonnes of pork.
Voicing concern about pork supply, Deputy PMHue, who is also head of the steering committee, asked the MARD to have moreprudent evaluation and prepare detailed responses since China is worrying abouta pork crisis, and traders have begun to accumulate the meat in Vietnam forexport to its northern neighbour.
He asked ministries, sectors and localities tocontinue keeping a close watch on supply and demand to take actions tostabilise the market when necessary, especially in the coming New Year,Christmas and Lunar New Year holidays./.
VNA
