Vietnam’s Sep CPI expected to increase 0.7-0.9pct: economist

Vietnam’s CPI (consumer price index) in September is expected to slow down thanks to the decline in price of some commodities, especially the reduction of 500 dong per liter of gasoline recently, according to economist Vo Tri Thanh.
Thanh said that the decline of gasoline price will impact significantly to the price of other commodities and products because of lower input costs.

The reduction of gasoline price will also help CPI fall by 0.21%, of which, it helps the CPI decrease directly by 0.07%. In September alone, the fall of gasoline price will help the CPI decrease by 0.04% because as prescribed, the 15th day of month will be the closing day to calculate the CPI. Therefore, the fall in gasoline price will make stronger impacts to the CPI in October, Thanh said.

Thanh said this month CPI growth rate will be approximately 1%.

Economist Le Dang Doanh said that the slowdown of CPI in September would be attributable to the decline in price of foodstuff, food and drinks. The reduction of gasoline price is not the main cause.

According to Doanh, the country’s CPI in September will rise around 0.7-0.9% and the rise will be maintained at below 1% in the next months if the price of gasoline in both local and global markets remains stable. Thus, the country’s CPI for the whole year 2011 would rise 19-20%. – Vietbiz24

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

Posted by VBN on Sep 6 2011. Filed under Economy News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry