CPI increase suggests double digit inflation this year
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The General Statistics Office reports the consumer price index (CPI) this month rose 1.86 per cent against October, or 9.58 per cent in comparison with December 2009.
It is the third straight month the CPI increased above 1 per cent. In September, CPI rose 1.31 per cent and in October was 1.05 per cent.
November’s increase indicates that the government failed to control inflation at 8 per cent as targeted by the National Assembly. Analysts forecast Vietnam’s inflation could be above 10 per cent this year.
In a speech at the National Assembly yesterday morning, Prime Minister Nguyen Tan Dung said one of main reasons for high inflation was global price hikes and the rising domestic market demands.
He said the government would continue to give priority for controlling inflation, focusing on fiscal and monetary measures in the coming months.
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