Viet Nam sees slower CPI increase in April

Friday, April 25, 2008
The General Statistics Office (GSO) reported Viet Nam ’s consumer price index (CPI) rose 2.2% in April, the slowest increasing rate since early this year.
The index increased 2.38%, 3.65% and 2.99% respectively in January, February and March.
In the first four months of 2008, the CPI soared 17.7% over the same period last year.

Hospitality experienced the highest price hike of 3.1%, followed by housing and construction materials at 2.62%, and transportation-post office services at 2.3%.

Other essential goods recording increases under 1% include pharmaceuticals and healthcare services, household utensils, garment, cultural and entertainment services, and education.

The domestic gold price in April experienced a 2.2% decrease over last month but the price of the US dollar rose 1.2% due to enterprises’ high demand for the foreign currency.

Despite positive responses after the government’s recent inflation control measures, the Ministry of Planning and Investment predicted the market is still facing complicated developments.

Rising fuel prices in the world market and recession of the US economy are considered factors likely to have a negative impact on Viet Nam ’s economic growth and prices of goods, the ministry said. (VNA)