June’s CPI records highest rise in six years
Vietnam’s consumer price index (CPI) in June expanded by 0.61 percent over May, the highest pace over the past six years, the General Statistics Office (GSO) announced on June 29.
Illustrative photo (Photo: VNA)Hanoi (VNA) – Vietnam’s consumer price index (CPI) in June expanded by 0.61 percent over May, the highest pace over the past six years, the General Statistics Office (GSO) announced on June 29.
The number represented increases of 4.67 percent year-on-year and 2.22 percent against December 2017, the office said.
With the figure, the index in the first six months of this year rose 3.29 percent over the same period last year.
The first-half CPI hike was driven by higher prices of medical services, which climbed up 25.68 percent in line with the Health Ministry’s Circular 02/2017/TT-BYT dated March 15, 2017, head of the GSO’s Price Statistics Department Do Thi Ngoc explained.
Besides, higher tuitions fees, the increase of regional minimum wage, plus higher prices of food, public transport services, and oil and gas products also contributed to the CPI rise.
[Infographics: CPI grows 3.29 percent in first half of 2018]
According to the GSO, June’s basic inflation (CPI exclusive of foodstuff, fresh food, energy, health care and education services) rose 0.1 percent over the previous month and 1.37 percent year-on-year. The number in the first six months also increased by 1.35 percent against the correspondent time last year.
Ngoc said ministries and agencies have actively implemented the Government’s Resolution No. 01/NQ-CP dated January 1, 2018 on major tasks and solutions to materialise the socio-economic development plan and state budget estimate in 2018, aiming to keep the CPI growth in 2018 below 4 percent.
The industry sector has joined hands with relevant agencies to instruct businesses to reserve goods and stabilise the market during the Lunar New Year, helping prevent unexpected price hike on the holiday.
The Finance Ministry has also stepped up market inspections. Meanwhile, the State Bank of Vietnam has managed the monetary policy, consistently pursuing the goal of maintaining macro-economic stability.-VNA
You should also see
PM urges village elders, citizens to help preserve cultural heritage
Prime Minister Pham Minh Chinh has asked village elders and chiefs, skilled artisans and reputable citizens to make greater efforts to preserve and promote tangible and intangible cultural heritage, which is the quintessence and core value of the nation.
See more
Business
Measures sought to boost Vietnam - Russia digital economic cooperation
The Vietnamese Embassy in Russia organised a seminar on April 19 on prospects for Vietnam-Russia digital economic cooperation, attracting over 100 delegates representing ministries, sectors, research institutes, and business associations of the two countries.
Business
Vietnam becomes biggest rice supplier for Singapore
Vietnam has for the first time surpassed India and Thailand to become the largest rice exporter to Singapore by shipping 36.15 million SGD (26.55 million USD) worth of rice in the first three months of this year, an increase of 80.46% over the same period in 2023, winning 32.03% of the market share, according to the Vietnam Trade Office in Singapore.
Business
Cooling equipment market heats up
Many electronics supermarkets in Hanoi have launched summer promotion programmes, reducing prices for cooling equipment such as air conditioners and fans, as the weather in the north of Vietnam has just begun to be hot and sunny.
Business
Vietnam an attractive destination for electronics, semiconductor investors: Official
Vietnam has strong infrastructure and research and development incentives as well as a skilled workforce, making it an attractive for “eagles” worldwide in the electronics and semiconductor industry, according to Deputy Minister of Planning and Investment Tran Duy Dong.
Business
Lam Dong strives to develop tea industry towards sustainable development
The Central Highlands province of Lam Dong aims to develop its tea industry to 2030 towards sustainable development by improving efficiency and fostering links between tea production, processing, and consumption. The province is also striving to replace aging tea plantations with high-quality tea varieties to enhance productivity.
