Vietnam CPI likely to climb by 1.6-1.8% in Apr

Vietnam Consumer Price Index (CPI) is likely to rise by between 1.6-1.8% in April as the prices of essential goods continue upward momentum

Vietnam Consumer Price Index (CPI) is likely to rise by between 1.6-1.8% in April as the prices of essential goods continue upward momentum, the online newspaper VTC News reported on March 30, citing the Ministry of Industry and Trade’s Price Control Department.

The world prices of fuel and food stuff stay high on unstable political crisis in the Middle East and Northern Africa area while higher production cost on electricity and fuel prices hike and higher borrowing rate as well will weight on the domestic price level this month.

The travel demand will also boost the food and catering consumption in the coming time, the department said.

Yesterday, the Ministry of Finance (MoF) raised domestic retail prices of fuel up to 15.5%, totaling a 35% increase in a month.

Earlier on March 24, the domestic retail prices of gas also posted an average increase of VND14,000 per 12 kilo cylinder to between VND334,000 per cylinder.

In the market, the essential good prices have been increasing sharply since the previous fuel and electricity prices hike.

Vietnam consumer price index(CPI) posted a 34-month high of 2.17% in March, raising CPI in the first quarter to 6.12%.Prices of transportation staple posted highest increase in the third month of this year with 6.69% on-month on Feb fuel hike. – Stoxplus.com

Tags: Vietnam CPI, Vietnam CPI 2011, Vietnam economic, Vietnam economy