September’s CPI under control (26/09)
06/08/2010 - 67 Lượt xem
Though the prices of seven out of the 10 surveyed goods categories rose, the increases were all under 2 percent. Foodstuff and services recorded the highest increase of 1.02 percent, followed by pharmaceutical products and medical services, 0.91 percent.
The prices of transport and postal services, cultural, sports and entertainment services dropped compared with last month.
The results were attributable to synchronous implementation of inflation control measures, said experts.
However, September’s CPI saw a year-on-year increase of 8.8 percent, a record surge in recent years.
The reduction of tariffs on some imports as of early August was singled out as a positive measure.
“Milk, steel and gas businesses have committed to not increasing their prices after the recent investigation,” said Finance Minister Vu Van Ninh.
However, a number of enterprises were forced to raise their selling prices due to the pressure of raw material cost. “The State management agencies could not use administrative orders to force them to reduce their prices, as it would go against the market mechanism,” he noted.
The ministry will continue slashing taxes on some goods, he said, adding that if businesses will not reduce their costs, fines may be levied against them and profits from lower tax would be withdrawn.
The Ha Noi Socio-Economic Development Research Institute forecasts that this year’s CPI will increase by between 8.5 percent and 10 percent.
Nguyen Minh Phong, an economist at the institute, said that from now until the end of the year, reductions will be seen in the prices of commodities that are subjected to tariff reductions under the country’s commitment to the World Trade Organisation while slight rise will occur in the prices of goods supplied by monopolists such as electricity, oil and gas and pharmaceuticals.
Source: VNAgency.
