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Ministry drafts three inflation scenarios based on world petrol price

The Finance Ministry said it has devised three scenarios for the domestic consumer price index (CPI) in 2019 based on different levels of increase in world petrol prices.
Ministry drafts three inflation scenarios based on world petrol price ảnh 1A motorcyclist purchases petroleum at a gas station (Photo: VNA)

Hanoi (VNA) – The Finance Ministry said it hasdevised three scenarios for the domestic consumer price index (CPI) in 2019 basedon different levels of increase in world petrol prices.

At a press conference on April 5, Dang Cong Khoi, deputydirector of the Price Management Department under the Finance Ministry, said inthe context of unstable world petrol prices on an upward trend, this will be animportant factor to domestic prices.

Therefore, it isnecessary to base price management on world petrol prices in order to achievethe goal of maintaining CPI growth at under 4 percent.

According to Khoi, in the case the world petrol prices riseby an average 5 percent, the national CPI in 2019 is projected to increase by3.4 percent on a yearly basis.

With a 10 percent rise in world petrol prices, the CPI wouldrise by around 3.7 percent under the second scenario.

In the third scenario based on a 15 percent hike in worldpetrol prices, the CPI would go up by an estimate 3.8 – 3.9 percent.

The official said the ministry will develop detailedscenarios for each case.

Also at the press conference, the Finance Ministry announcedthat the country inked one agreement on foreign loans worth 188.3 million USD.

The Government spent over 38.76 trillion VND (1.67 billionUSD) on paying debts in March, bringing the total debt payment in the firstquarter to over 99.1 trillion VND (4.27 billion USD), of which 15 trillion VNDwas payment for foreign debts.-VNA

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