10 May '11, 9am

Inflation in #Vietnam will push more into poverty

Poverty will rise in Vietnam as a result of soaring inflation this year so the government must stay the course on price-busting policies, John Hendra, head of the United Nations mission in the country, said on Tuesday. -- PHOTO: REUTERS HANOI - POVERTY will rise in Vietnam as a result of soaring inflation this year so the government must stay the course on price-busting policies, John Hendra, head of the United Nations mission in the country, said on Tuesday. A UN study showed that poverty increased by 2.1 per cent after Vietnam's last bout of high inflation in 2008. That year, inflation peaked near 28 per cent in August. Last month, the annual rise in the consumer price index hit 17.5 per cent - its highest level since December 2008 - and it is still going up. 'It will increase the poverty rate. Whether that's one or two per cent, or more, we will see,' Mr Hendra told rep...

Full article: http://www.straitstimes.com/BreakingNews/SEAsia/Story/STI...

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