|
1 percent inflation forecast for August
Consumer price index is likely to rise by around 1 percent in August, the Ministry of Finance said, bringing inflation for the year to date to around 16 percent and 23 percent year-on-year.
It is down from 1.17 percent in July and 1.09 percent in June.
It would be difficult to contain it below the targeted 17 percent for the full year, Nguyen Tien Thoa, the director of the ministry's Price Management Department, admitted, explaining there were both domestic and international economic factors that could affect prices through the rest of the year.
The government needed to draw up a roadmap for overall prices increases to avoid shocks, he said.
It would be difficult to reduce inflation quickly since the current situation was the result of inherent economic shortcomings that had been several years in the making, he added.
The new Minister of Finance, Vuong Dinh Hue, said last week that his first priority would be to work closely with the State Bank of Vietnam to implement the tight monetary policies to curb inflation.
tuoitrenews
|
