(VOVworld) – The Economist Intelligence Unit (EIU), a business within the London-based Economist Group, has reported that the Vietnamese government’s price stabilization measures during the Tet holiday will help reduce the annual inflation rate in 2015.
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Product prices during Tet are stabilised thanks to the government’s measures. (Photo: Phunu)
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According to the EIU, Vietnamese households spend a lot of money on food and beverages during Tet, especially this year, thanks to improved consumer confidence.
A report issued by the Vietnamese General Statistics Office indicates that Vietnam’s consumer price index (CPI) in February fell 0.05 per cent due to the reduction of oil prices. Three of 11 groups of commodities and services – housing and construction materials, transportation, and telecommunications – saw sharp reductions. The sharpest decrease, 4.41 per cent, belonged to transportation. The prices of medicine and medical services, education, and culture, entertainment, and tourism were virtually unchanged. The report predicts that Vietnam’s CPI in March is unlikely to decrease drastically, because purchasing power and prices of goods are stable while oil prices have declined.