Government determined to control inflation: PM

Government determined to control inflation: PM The Saigon Times Daily Prime Minister Nguyen Xuan Phuc speaks at the Government’s monthly meeting on July 31 – PHOTO: VNA HCMC – The Government is striving to curb inflation, Prime Minister Nguyen Xuan Phuc said today, July 31, noting that the consumer price index (CPI) in July had slid slightly compared with the previous months though the pressure of inflation had appeared to be building. The Government leader was speaking at a monthly Cabinet meeting in Hanoi City in which the country’s socioeconomic performance in the January-July period was reviewed, reported the Vietnam News Agency. Positive achievements The country’s socioeconomic performance in July is better than in June, with the CPI slipping by 0.09% after surges in the two previous months, according to the prime minister. He noted that the Government is determined to keep inflation under 4%, in line with the National Assembly’s Resolution. Core inflation, which excludes certain items and services with volatile price movements, such as food, energy, healthcare and education, has inched up by a mere 1.36%. PM Phuc added that the industrial production index had gone up by 14.3%, of which the processing and manufacturing industry — the driving force in July — had increased by 16.6%. Other indicators, including retail sales of goods and services, international tourist arrivals, foreign direct investment, budget revenue and exports, all posted positive results. According to the PM, the budget revenue had reached roughly 52% of the annual estimate as of mid-July,… [Read full story]