Vietnam Q1 inflation lowest in three years

By Hung Le   April 2, 2019 | 12:40 pm GMT+7
Vietnam Q1 inflation lowest in three years
Vietnamese consumers shop for fruit in a supermarket in Hanoi. Photo by Shutterstock

The consumer price index (CPI) increased 2.7 percent year-on-year in the first quarter, the lowest increase in three years.

March prices fell 0.21 percent over February, according to the General Statistics Office (GSO). There was a fall in the prices of seven of 11 items in the basket of consumer goods and services that make up the index.

According to Do Thi Ngoc, director of the GSO, the reasons for the low inflation rate were the African swine fever outbreak and lower petrol and gas prices during the period. A 1.42 percent fall in the prices of essential foods, including eating out, was the biggest drag on the CPI.

The African swine fever epidemic has meant that in some places pork prices have fallen by 40 percent since the beginning of February. 

Other notable decreases were of the prices of clothing and telecommunications, which were down by 0.17 percent and 0.07 percent.

At a recent meeting of the Steering Committee on Price Management Thursday, Deputy Prime Minister Vuong Dinh Hue said in the current scenario the target of keeping this year's inflation at 3.3-3.9 percent is within reach.

CPI in 2018 increased by 3.54 percent, well below the 4 percent target set by the National Assembly.

 
 
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