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Inflation to remain low this month
The Consumer Price Index (CPI) in June is likely to rise 0.35 per cent over May, driven largely by the food and building material costs, the Price Management Department under the Ministry of Finance reportedly said last Saturday.
One of the reasons pushing the CPI up was that the recovering world economy keeps prices of fuel and materials high, and this in turn increases their domestic prices because most of it is imported.
The price of imported goods was also pushed up by the devaluation of Vietnamese dong, the department was quoted by the Vietnam Economics Times as saying .
The ministry also mentioned the spread of the blue-ear disease that has affected many localities as a factor. The disease has reduced demand for meat and increased it for alternative food, pushing food prices further upwards.
As work at construction sites picks up speed in June, demand increases for building materials, leading to increased prices. The Ministry of Finance has suggested many price stabilisation measures to be carried out from now until the end of the year. These include not increasing the price of electricity and the price of coal sold to thermal power plants, and strictly managing fluctuations in oil prices.
vietnamnews
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