Vietnam’s Deputy Prime Minister Vuong Dinh Hue has just asked to take the initiative in operating measures to firmly control inflation in 2019.
Need to monitor inflation risks: According to statistics, the consumer price index (CPI) in the first quarter of 2019 increased slightly in January, the average of the first 3 months was estimated to increase 2.63% compared to the same period in 2018, is the lowest level in 3 consecutive years recently. Basic inflation increased slightly, up 1.84% over the same period in 2018.
Vietnam Institute for Economic and Policy Research (VEPR) said that the inflation increased slightly in the first quarter of 2019 mainly due to the increase in energy prices.
However, the economy in the second quarter of 2019 could still face with many potential risks due to an increase of 8.36% in electricity prices on 20 March, which may make CPI increase by 3.3%. VEPR said that in the context of fluctuating world commodity prices, along with the imposition of an environmental protection tax ceiling on petroleum from 01 January 2019, the State Bank could still need to monitor inflation risks in time to take appropriate measures.
VDSC