CATEGORIES

© Copyright 2004; Hanoitimes - Economic and Urban Newspaper;

The tribune of Hanoi People’s Committee

Publication Permit: 29/GP-CBC

Editor - in - Chief: Nguyen Thanh Loi

Managing Editor: Ta Thu Giang

Email : thugiang@hanoitimes.vn

Head Office: 21 Huynh Thuc Khang Street, Dong Da District, Hanoi

Branch Office: 221 Tran Phu Street, Ha Dong District, Hanoi

WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Trade - Service
Vietnam 2019 inflation projected to stay below 4% target
Ngoc Thuy 17:49, 2019/07/04
Both scenarios for inflation in 2019 presented by the government indicate inflation will be in the range of 3.17 – 3.41%.
Vietnam’s inflation is projected to be 3.41% in 2019, much lower than the government target of 4%, according to Deputy Prime Minister Vuong Dinh Hue. 
 
Overview of the meeting. Source: VGP.
Overview of the meeting. Source: VGP.
The public services fees, therefore, should be adjusted in parallel, Hue said in a government meeting on July 3. 

Vietnam’s consumer price index, a gauge of inflation, declined 0.09% month-on-month in June, leading to the expansion of the average CPI in the six-month period at 2.64% year-on-year, the lowest rate recorded over the past three years, said Nguyen Bich Lam, head of the General Statistics Office. 

Nguyen Van Truyen, deputy director of the Ministry of Finance’s Price Management Department, attributed the low expansion of CPI in the January – June period to a decline in prices of food, fuel and telecommunication services, among others. 

Additionally, government agencies have been closely supervising prices of centrally-administered goods and services, ensuring the balance between supply and demand, Truyen added. 

The government forecast prices for certain goods could be on the way up from now on until the end of the year, mainly due to strong volatility of oil prices in the world market; price adjustment for goods and services under state management, including healthcare and education, based on market mechanism; wage increase; natural disaster and unfavorable weather conditions.

On the contrary, there remain factors that could relieve pressure on price increase, including the potential decline in rice prices in the world market, stable prices of construction materials, and consistent foreign exchange policy. 

Truyen suggested two scenarios for inflation rate in 2019, both are in range of 3.17 – 3.41%, compared to the target of 3.3 – 3.9% set in the previous meeting.

Under such circumstances, goods and services under state management could be subject to further price upward adjustment in the fourth quarter of 2019, Truyen continued. 
Comments
Other news
16:41, 2024/12/16
Hanoi seeks greater efficiency in e-commerce tax management
Hanoi's e-commerce tax administration is expected to be significantly tightened in the near future.
17:34, 2024/12/15
Hanoi's wet markets in decline amid changing consumer behaviors
Local consumers prefer shopping options that offer convenience and assurance of product origin.
11:10, 2024/12/15
Heavy fines for unhygienic street vendors in Hanoi
Higher fines for food safety violations in Hanoi are according to new resolution.
17:20, 2024/12/14
Busy high season at Thuong Mao Carpentry Village
Founded during the Nguyen dynasty in the 1800s, Thuong Mao Carpentry Village on the outskirts of Hanoi has grown steadily to become a major supplier of wood products throughout Vietnam.
15:33, 2024/12/11
Hanoi plans for new markets
The city's plans to build and upgrade markets will comply with environmental hygiene regulations, fire safety precautions, and food safety standards.
19:07, 2024/12/05
Hanoi Shopping Festival 2024 promotes agricultural products and handicrafts
The festival helps businesses promote their products made under OCOP programs and traditional crafts.