Pace of Vietnamese inflation slackens

Business News

Oct 27, 2009, 4:26 GMT

Hanoi - Vietnam's consumer price index rose 0.37 per cent in October from the month before, down from September's 0.62 per cent, the General Statistics Office said Tuesday. Prices were up 7.2 per cent year-on-year, agency official Pham Tien Nam said. Credit growth stemming from Vietnam's billion-dollar, anti-recessionary stimulus package has led to fears of rising inflation, but the new figures showed little sign of it. The statistics office said the rise in the index was led by transportation, telecommunications, education and construction prices. Food prices fell 0.32 per cent month-on-month and 2.54 per cent year-on-year. Exports rose 1.5 per cent in October to 4.7 billion dollars while imports were up 7.25 per cent to 6.7 billion dollars. Vietnam's trade deficit in the first 10 months of the year hit 8.8 billion dollars, down from 16.4 billion dollars over the same period last year.

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Pace of Vietnamese inflation slackens

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