ID :
20840
Tue, 09/23/2008 - 22:21
Auther :
Shortlink :
http://m.oananews.org//node/20840
The shortlink copeid
CPI shows positive signs in fourth quarter
Hanoi (VNA) - The country's consumer price index (CPI) saw a 0.18
percent increase in September, the lowest rise since the beginning of the
year.
This slight rise is considered a positive sign of the macro economic
situation in the fourth quarter of the year.
The General Statistics Office (GSO) stated that this trend has been
steady since May, apart from a slight increase in August due to the impact
of oil price increases.
The low September CPI was attributed to a global decline in prices and the
abundant supply of domestic essential products like food, foodstuff,
construction materials, fertiliser, gas and electronic goods.
Furthermore, cutting back on public spending and changes in consumers'
habits have also contributed to restricting the CPI increase during
September.
Deputy Head of the Finance Ministry's Market and Price Research Institute
Vu Dinh Anh said that it is likely to keep the inflation rate at under 25
percent for the whole year due to the CPI downward trend and the
implementation of monetary tightening solutions.
Anh, however, noted that the pressure of the rise in the CPI will remain
high in the remaining months of the year as this is the time for businesses
to increase their production and investment, resulting in an increase in
capital disbursement rates and consumption demand while supply sources are
reduced.
Sharing Anh's view, economic expert Ngo Tri Long said the slow CPI
increase over the past months is only the initial positive sign. He
emphasised the necessity to maintain current monetary controlling measures.
At talks between the Government and economic experts on Vietnam 's
economic situation and prospects last week, many international experts
warned Vietnam of the impacts of the second inflation round and complex
global economic developments, such as unstable oil prices.
Local experts forecast that the whole year's CPI will stand at 25 percent
while experts from the Standard Chartered Bank predict that Vietnam 's
CPI will be 25.5 percent this year and 15 percent in 2009.
percent increase in September, the lowest rise since the beginning of the
year.
This slight rise is considered a positive sign of the macro economic
situation in the fourth quarter of the year.
The General Statistics Office (GSO) stated that this trend has been
steady since May, apart from a slight increase in August due to the impact
of oil price increases.
The low September CPI was attributed to a global decline in prices and the
abundant supply of domestic essential products like food, foodstuff,
construction materials, fertiliser, gas and electronic goods.
Furthermore, cutting back on public spending and changes in consumers'
habits have also contributed to restricting the CPI increase during
September.
Deputy Head of the Finance Ministry's Market and Price Research Institute
Vu Dinh Anh said that it is likely to keep the inflation rate at under 25
percent for the whole year due to the CPI downward trend and the
implementation of monetary tightening solutions.
Anh, however, noted that the pressure of the rise in the CPI will remain
high in the remaining months of the year as this is the time for businesses
to increase their production and investment, resulting in an increase in
capital disbursement rates and consumption demand while supply sources are
reduced.
Sharing Anh's view, economic expert Ngo Tri Long said the slow CPI
increase over the past months is only the initial positive sign. He
emphasised the necessity to maintain current monetary controlling measures.
At talks between the Government and economic experts on Vietnam 's
economic situation and prospects last week, many international experts
warned Vietnam of the impacts of the second inflation round and complex
global economic developments, such as unstable oil prices.
Local experts forecast that the whole year's CPI will stand at 25 percent
while experts from the Standard Chartered Bank predict that Vietnam 's
CPI will be 25.5 percent this year and 15 percent in 2009.
