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First quarter CPI sees lowest rise in three years

VOV.VN - The average Consumer Price Index (CPI) in the first quarter of this year was estimated to inch up 2.63 per cent on year, representing the lowest rate over the previous three consecutive years, according to a report.

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first quarter cpi sees lowest rise in three years hinh 0
Illustrative image.

The report released at a March 28 meeting held by the National Steering Committee on Price Management (SCPM) in Hanoi reveals that inflation across the three-month period increased slightly by 1.84 per cent on year.

It also points out that an increase of 8.36 per cent in the average electricity retail tariff, which began on March 20, resulted in a modest hike of 0.33 per cent in the March CPI.

Deputy Prime Minister Vuong Dinh Hue, who is also head of the SCPM, noted that the price management work in the three-month period achieved a number of positive results, largely due to close and fruitful coordination between ministries and agencies under the committee’s direction.

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With pork prices declining, Deputy PM Hue warned that if no proper re-population plans are put forth, the year-end supply could face shortages, thus potentially pushing up the price of pork and other goods.

He asked ministries and agencies to make prompt price adjustments based on market fluctuations, instead of completely relying on the right balance of supply and demand.

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They were also required to make timely proposals to the Government and the Prime Minister on regulating production and consumption.

VOV

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