Cpi

Inflationary pressure in the remaining six months would be insignificant as the oil prices are unlikely to surge, which is a result of a possible global economic recession.

While the inflationary pressure, especially driven by hikes in prices of oil and food, devalues some currencies, Vietnam’s inflation target would remain unchanged.

Core inflation in the first six months of 2020 rose by 2.81% year-on-year.

The growth rate, however, remains among the highest nationwide and is significantly higher than the national growth average of 1.81% during the period.

The consumer prices, however, increased 4.39% year-on-year in the January- May period, the highest five-month growth rate over the last three years.

A positive growth rate of Hanoi’s industrial production in May led to an expansion of 2.6% year-on-year in the January – May period.

The growing trend of FDI to Hanoi showed result of the city authorities’ efforts to reform administrative procedures and ensure a favorable investment environment.

With the new threshold in place, set to take effect from January 1, 2020 retrospectively, there would be more than 1 million people whose incomes are not taxable.

The consumer prices, however, increased 4.9% year-on-year in the January- April period, the highest four-month growth rate during the 2016 – 2020 period.

The government is determined to maintain fast economic growth and stabilize market prices at the same time, said Prime Minister Nguyen Xuan Phuc.