Vietnam intervenes to stabilize pork prices
Customers are paying pork prices 40% higher than they should be.
Customers are paying pork prices 40% higher than they should be.
The CPI increased 5.56% year-on-year in the first quarter, the highest growth rate for a January-March quarter during the 2016 – 2020 period.
Food and medical items are seen as major factors driving up inflation rate in March.
The CPI increased 5.91% year-on-year in the first two months of 2020, the highest growth rate for a two-month period over the last seven years.
Vietnam’s consumer price index (CPI) growth in February is predicted to drop to 0.46% month-on-month and 5.10% year-on-year.
The mining industry’s output decreased by 18.2% month-on-month and 32.1% year-on-year, while the manufacturing and processing industry declined by 25.4% and 15.4%, respectively.
Core inflation in January picked up 0.76% month-on-month, resulting in an increase of 3.25% year-on-year.
The consumer price index (CPI) saw an increase of 1.4% in December against the previous month, the highest growth rate for December over the last nine years.
The inflation is estimated to be in range of 3.59 – 3.91% for 2020, much higher than the rate of 2.7 – 2.8% for this year.
This would be a second consecutive year that Vietnam’s economy expands over 7%, while low inflation makes such economic growth more significant.