24 Mar '11, 9am

Vietnam sees inflation at 13.9% in March

HANOI: Vietnam's inflation rose to a two-year high in March, official estimates showed on Thursday, as the government shifts from a longstanding focus on growth towards stabilising its troubled economy. The consumer price index (CPI) is expected to jump 13.9 per cent year-on-year in March, the General Statistics Office reported. Rising inflation has become a key policy concern for governments around Asia but consumer prices in Vietnam have risen faster than in neighbouring countries. Average CPI in the first quarter rose by 12.79 per cent against the same period last year, led by a 17-per cent increase in food, the statistics office said. The government will follow "a tight and prudent monetary policy" while "reducing public investment and... containing the trade deficit" to ensure social security and stable growth, Deputy Prime Minister Nguyen Sinh Hung told the National ...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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