|
Slower inflation helps boost retail sale
The country's retail sales value of goods and services last month increased 1.92 percent over the previous month to nearly 167.6 trillion VND (8.56 billion USD), thanks to a continuous deceleration of the Consumer Price Index (CPI), according to the General Statistics Office (GSO).
Vu Manh Ha, a GSO expert, said that the CPI slowdown in October, which reduced prices of certain consumer goods, contributed significantly to the surge in retail sales value.
Last month was the third consecutive month that the CPI growth rate went down. The General Statistics Office reported that CPI last month surged only 0.36 percent against September, the lowest level since July 2010.
October's figure lifted the total retail sales value of goods and services in the first 10 months of the year to 1,561 trillion VND (75.48 billion USD), up 23.1 percent over the same period last year.
However, considering the inflation, the surge was only 3.9 percent, much lower than the rate of 15 percent in the first 10 months of last year. The 3.9 percent rise has been unchanged since August and equal to only half of the increasing rate in the first seven months of the year.
With a growth rate of more than 23.3 percent during the first 10 months, the commercial and hotel-restaurant sectors contributed more than 90 percent of the nation's total consumption revenue.
Ha projected that the growth rate would be higher in the next two months, explaining that CPI was continuously decreasing and that consumption demand often increased significantly at the end of the year during the holiday season.
Last year, the country's total retail sales value of goods and services jumped by 24.5 percent against the previous year to 1,561 trillion VND (74.3 billion USD).
vietnamplus
|
