Vietnam April inflation at 4-year high

By Anh Vu, Thanh Nien News

Email Print

A gas station in Hanoi. Photo: Ngoc Thang A gas station in Hanoi. Photo: Ngoc Thang


Vietnam's inflation rate in April was 0.33 percent, the highest month-on-month increase since 2012, with the prices of most goods and services rising, according to the government's new data.
After flatlining in January and slowly picking up in the following months, the inflation rate this year has been 1.33 percent compared to 0.04 percent in the same period last year.
Of the 11 baskets making up the consumer price index, food and dining services and post and telecom remained unchanged in April and entertainment and tourism slightly declined, while all the rest saw an increase, the General Statistics Office of Vietnam reported.
Transport prices grew the most, 1.73 percent, as fuel prices increased by 3.83 percent month-on-month following two fuel hikes at the end of March and early this month.
Housing and construction materials ranked second after increasing by 0.71 percent due to a rise of 1.64 percent in construction material prices. The rise resulted mainly from additional taxation on imported steel products as a temporary safeguard measures. The new tariffs, 23.3 percent on billets and 14.2 percent on rods, took effect on March 22.
Inflation was at a record low of 0.63 percent last year, but is expected to rise to 5 percent this year.

More Business News