Vietnam’s consumer prices up 4.19% in Jan-Jun, highest in 5 years
Core inflation in the first six months of 2020 rose by 2.81% year-on-year.
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.
While a number of supporting policies are in place, the effectiveness of some programs is not up to expectation, said Minister of Planning and Investment Nguyen Chi Dung.
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.
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.
Lower policy rates would enable commercial banks to cut interest rates in a more sustainable way, which in turn contribute significantly to economic recovery, said a central bank official.
The central bank had previously cut the benchmark interest rates by 0.5 – 1 percentage point in March.
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.
Vietnam's headline inflation averaged 5.6% year-on-year in the first quarter, but has been gradually decreasing since last December.
Taking tough measures for the safety of people has become the government's top priority.