Latest topics
Vietnam inflation eases, growth slows
3 posters
Page 1 of 1
Vietnam inflation eases, growth slows
Sep 24, 2011 02:54 EDT
Vietnam inflation eases, growth slows
Vietnam's inflation rate eased for the first time in over a year in September, according to official estimates, but economic growth was lower amid government efforts to rein in prices.
The consumer price index (CPI) slowed to 22.4 percent year-on-year in September from 23 percent in August, the General Statistics Office reported on Saturday, following 12 straight months of rises.
Long focused on growth, Vietnam has shifted its focus to battling Asia's highest inflation rate in recent months, with a package of fiscal and monetary tightening to try to restore faith in the shaken economy.
The statistics office reported output growth eased slightly to 5.76 percent year-on-year in the first nine months of 2011, compared with 6.54 percent in the same period of 2010. The country's year-end target is around six percent.
The Asian Development Bank said earlier this month that Vietnam must continue to battle rising prices and the country is expected to see annual inflation average 18.7 percent in 2011.
The rising consumer prices have been driven by soaring food costs.
Vietnam aims to keep inflation at about 15 percent this year, up from seven percent initially planned late last year.
The government is working to address various issues including a large trade deficit, weak currency, and inefficient state spending as well as inflation.
On Friday the statistics office said Vietnam's trade deficit in the first nine months was estimated at $6.84 billion, compared with $8.5 billion for the same period last year. The trade deficit was estimated at $12.4 billion in 2010.
The United Nations in May said the communist nation has one of the world's five highest inflation rates. However, it remains below a recent peak of 28.3 percent seen in August 2008, and far from the triple-digit figures of the 1980s.
Source: AFP Asian Edition http://www.newsmeat.com/news/meat.php?articleId=119257155&channelId=2951&buyerId=newsmeatcom&buid=3281
Vietnam inflation eases, growth slows
Vietnam's inflation rate eased for the first time in over a year in September, according to official estimates, but economic growth was lower amid government efforts to rein in prices.
The consumer price index (CPI) slowed to 22.4 percent year-on-year in September from 23 percent in August, the General Statistics Office reported on Saturday, following 12 straight months of rises.
Long focused on growth, Vietnam has shifted its focus to battling Asia's highest inflation rate in recent months, with a package of fiscal and monetary tightening to try to restore faith in the shaken economy.
The statistics office reported output growth eased slightly to 5.76 percent year-on-year in the first nine months of 2011, compared with 6.54 percent in the same period of 2010. The country's year-end target is around six percent.
The Asian Development Bank said earlier this month that Vietnam must continue to battle rising prices and the country is expected to see annual inflation average 18.7 percent in 2011.
The rising consumer prices have been driven by soaring food costs.
Vietnam aims to keep inflation at about 15 percent this year, up from seven percent initially planned late last year.
The government is working to address various issues including a large trade deficit, weak currency, and inefficient state spending as well as inflation.
On Friday the statistics office said Vietnam's trade deficit in the first nine months was estimated at $6.84 billion, compared with $8.5 billion for the same period last year. The trade deficit was estimated at $12.4 billion in 2010.
The United Nations in May said the communist nation has one of the world's five highest inflation rates. However, it remains below a recent peak of 28.3 percent seen in August 2008, and far from the triple-digit figures of the 1980s.
Source: AFP Asian Edition http://www.newsmeat.com/news/meat.php?articleId=119257155&channelId=2951&buyerId=newsmeatcom&buid=3281
*****************
"WHEN THE POWER OF LOVE OVERCOMES THE LOVE OF POWER, THE WORLD WILL KNOW PEACE"
lexie- Elite Member
- Posts : 1812
Join date : 2011-06-24
Re: Vietnam inflation eases, growth slows
i wonder if they will revalue because of inflation
bobbysac- Forum Friend
- Posts : 117
Join date : 2011-06-18
Re: Vietnam inflation eases, growth slows
That would sure be nice. I hope that it will r/v for at least $.25USD. That would set me up just fine.
Cardiac99- Elite Member
- Posts : 552
Join date : 2011-07-06
Age : 61
Location : Choctaw, Oklahoma
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
Yesterday at 11:16 am by kenlej
» Phony Tony sez: Full Steam Ahead!
Sat Apr 13, 2024 11:51 am by Mission1st
» Dave Schmidt - Zim Notes for Purchase (NOT PHYSICAL NOTES)
Sat Apr 13, 2024 11:45 am by Mission1st
» Russia aren't taking any prisoners
Fri Apr 05, 2024 6:48 pm by kenlej
» Deadly stampede could affect Iraq’s World Cup hopes 1/19/23
Wed Mar 27, 2024 6:02 am by Ditartyn
» ZIGPLACE
Wed Mar 20, 2024 6:29 am by Zig
» CBD Vape Cartridges
Thu Mar 07, 2024 2:10 pm by Arendac
» Classic Tony is back
Tue Mar 05, 2024 2:53 pm by Mission1st
» THE MUSINGS OF A MADMAN
Mon Mar 04, 2024 11:40 am by Arendac
» Minister of Transport: We do not have authority over any airport in Iraq
Mon Mar 04, 2024 11:40 am by Verina
» Did Okie Die?
Mon Mar 04, 2024 11:34 am by Arendac
» Hello all, I’m new
Wed Jan 31, 2024 8:46 pm by Jonny_5
» The Renfrows: Prophets for Profits, Happy Anniversary!
Wed Jan 31, 2024 6:46 pm by Mission1st
» What Happens when Cancer is treated with Cannabis? VIDEO
Wed Jan 31, 2024 8:58 am by MadisonParrish
» An Awesome talk between Tucker and Russell Brand
Wed Jan 31, 2024 12:16 am by kenlej
» Trafficking in children
Mon Jan 29, 2024 7:43 pm by kenlej
» The second American Revolution has begun, God Bless Texas
Mon Jan 29, 2024 6:13 pm by kenlej
» The Global Currency Reset Evolution Event Will Begin With Gold, Zimbabwe ZWR Old Bank Notes
Sun Jan 28, 2024 3:28 pm by Mission1st
» Tucker talking Canada
Wed Jan 24, 2024 6:50 pm by kenlej
» Almost to the end The goodguys are winning
Mon Jan 22, 2024 9:03 pm by kenlej