Inflation eases again in April

Tuoi Tre

Vietnam’s inflation rate eased to 9.23 percent in April as the cost of transport and communications fell, according to the latest data from the General Statistics Office.

Inflation has been slowing in Vietnam for the past eight months, down from 11.25 percent in April. Last year, inflation hit 23 percent, the highest in 17 years and a dramatic increase from the 8 percent recorded in 2007.

On a monthly basis, the consumer price index (CPI) rose by 0.35 percent in April from March, the General Statistics Office said on Wednesday.

During April, transport and communications saw a year-on-year decrease of 6.49 percent.

At the same time, the price of food rose by 14.01 percent, beverage and cigarettes went up 11.42 percent while the cost of household appliances and goods rose by 10.34 percent from a year ago.

Vietnam's economy expanded 6.2 percent last year, the lowest level in nearly a decade and down from 8.5 percent in 2007, but still one of the world's fastest growth rates.

The World Bank has forecast 5.5 percent growth for Vietnam in 2009, while the Asian Development Bank said Vietnam’s economy could expand by 4.5 percent.

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