Several factors could drive the CPI higher in the final months of the year
Although inflation has been well contained over the past eight months, there are still many potential factors that could push the Consumer Price Index (CPI) higher in the final months of 2022 and into 2023.
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| Inside the Big C Thang Long supermarket, Cau Giay district, Hanoi. |
| Photo : VNA/CVN |
In an interview with the Vietnam News Agency (VNA), Director General of the General Statistics Office (GSO), Nguyên Thi Huong, highlighted the country’s efforts to control inflation over the past last eight months at the level of 2.58%, despite fluctuations in the global market.
According to her, despite the unfavorable global situation, economic activities in Vietnam continued to show a good recovery trend. Many synchronous measures have been put in place by the government to reduce fuel prices, stabilize electricity and water prices as well as school fees, maintain reasonable exchange rates and interest rates … Thanks to these efforts, inflation in the first eight months of 2022 was brought under control at 2.58%.
This will allow Vietnam to probably meet its inflation control target of around 4% this year, as set out by the National Assembly, said Nguyên Thi Huong.
However, there are still potential factors that could push the CPI higher in the final months of 2022 and into 2023, she said, citing rising commodity prices around the world. In addition, food prices are expected to increase along with demand for goods and services…
On the measures, Nguyên Thi Huong said the GSO has offered ministries, organs and localities to prepare adequate supplies to ensure rapid response to people’s needs for essential consumer goods and services.
The GSO also proposed that the State Bank of Vietnam continue to apply a proactive and flexible monetary policy, in close coordination with fiscal policy and other macroeconomic policies, in order to control inflation in accordance with the set target…
VNA/CVN