Vietnamese consumer price inflation accelerates to 8.4 pct in July |
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Tue, 24 Jul 2007 07:38
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HANOI (Thomson Financial) - Vietnamese consumer price inflation is estimated to have accelerated to an annual rate of 8.4 percent in July, the government said Tuesday.The General Statistics Office's (GSO's) preliminary report said food prices, which make up more than 40 percent of the basket of goods on which the consumer price index is based, were 11.1 percent higher in July than a year ago, with the price of rice and other kinds of grain increasing by 15.0 percent.Housing and construction materials cost 10.9 percent more, while gold was up 5.5 percent and the US dollar rate rose nearly 1.0 percent against the dong.In June, the annual rate of inflation was 7.8 percent and in May it was 7.3 percent.Last week, Deputy Prime Minister Nguyen Sinh Hung warned: 'Although within control, the rise in consumer prices is still high, while several hidden criteria can cause upheavals in the market.'Hung, who used to be finance minister, called for 'active measures to stabilize the market in case of imbalances in the supply and demand of essential products like oil, food, fertilizer, steel, cement or pharmaceutical products.'The government aims to ensure that the rate of inflation in consumer prices this year is no faster than the rate of economic growth of 8.2-8.5 percent that it plans.afp/jmjm/jmCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Forex - US dollar weaker in early in Asian session on US PPI, housing data 