Vietnam inflation falls sharply in September

Vietnam's inflation rate in September dropped to 0.18 per cent from August's 1.56 per cent because of falling food and fuel prices, Vietnamese government officials said Tuesday in a preliminary reading.

"This is the lowest inflation to date [this year]," said Nguyen The Hung, a senior official in the Planning and Investment Ministry, reported dpa.

Petrol prices fell on lower world oil prices, and rice prices fell because of a bumper autumn rice harvest in the Mekong Delta, but prices of several other kinds of goods rose faster than 1 per cent month-on-month.

Government authorities in other countries often exclude volatile food and fuel prices in setting monetary policy, relying instead on a "core inflation" rate. Vietnam has no such measurement.

"The eight-part package the government has been carrying out for the last six months with its priority of curbing inflation instead of boosting economic growth has been brought into full play," said Tran Duc Nguyen, an economist who served on a high-level government research group that was dissolved in 2006. "However, it is only a preliminary result, and is still very volatile."

Vietnam's inflation has been running at double-digit rates since the start of the year. Even with September's low rate, prices are up 28 per cent from a year earlier.

The Asian Development Bank forecast last week that Vietnam's inflation rate would be 25 per cent in 2008 and slow to 17.5 per cent next year, failing to meet the government goal of lowering inflation below 10 per cent.

The bank recommended Vietnam reduce its economic growth target to 6 per cent for 2009 and continue tight credit and spending policies to get inflation under control.

Analysts have worried that with inflation and trade deficit figures improving, the government would allow renewed growth in credit and spending by state-owned industries.

Subscribe to Trend in Google News! Subscribe
Buta Airways to Resume Flights from Baku to Kazan and Ufa
Buta Airways to Resume Flights from Baku to Kazan and Ufa
Azercosmos OJSC announces tender
Azercosmos OJSC announces tender
Baku Transport Agency talks details of bus accident on Zikh highway
Baku Transport Agency talks details of bus accident on Zikh highway
Loading Bars
Latest
Turkey confirms 76,341 daily COVID-19 cases
US approves major arms sale to Egypt
Scientists take aim at Omicron
U.S. House Speaker Pelosi announces reelection bid in 2022 midterms
James Webb Space Telescope reaches observation post a million miles from Earth
Microsoft offers strong forecast, lifting shares
Americans need to lift sanctions before call for direct talks
Over 10 mln children in U.S. infected with COVID-19
Number of COVID-19 cases worldwide exceeds 350 mln
Qatar's emir to visit Washington on Jan. 31
Airbus to create own airline to rent out whale plane
Closure of Istanbul Airport extended
White House says Biden is open to engaging with Putin but no talks are planned
Kazakhstan unveils foreign trade structure with EAEU countries for 11M2021
Israel's president says to make "historic visit" to UAE
Uzbekistan sets up government commission to study major power outage
IMF downgrades 2022 global growth forecast to 4.4 pct amid Omicron surge
Turkey starts giving Turkovac as booster shot to BioNTech recipients
Azerbaijan, Iran discuss prospects for development of military cooperation (PHOTO)
Azerbaijan Defense Minister meets with Chief of General Staff of Armed Forces of Iran (PHOTO)
Pfizer, BioNTech start clinical trial of Omicron-specific COVID-19 vaccine
Number of infections with Omicron COVID-19 strain keeps growing in Azerbaijan
Azerbaijan's servicemen honor memory of martyrs in Dashalty village of liberated Shusha - Trend TV (PHOTO/VIDEO)
Embassy of India in Baku celebrates National Tourism Day as part of 73rd Republic Day of India and 75 years of India’s Independence (PHOTO)
Bridge construction over Astarachay River to be funded by Iran and Azerbaijan - Iranian minister
Iran's foreign trade increases
New bridge construction over Astarachay River to promote freight traffic growth
Hopefully, number of Azerbaijani tourists to India increases - ambassador (PHOTO)
Central Bank of Azerbaijan, SOFAZ hold foreign currency auction
Natural gas, coal prices to remain high in coming months
Foundation stone laid for monument to Uzeyir Hajibeyov in St. Petersburg
Turkmenistan boosts trade with Kazakhstan over 11M2021
Tajikistan ratifies railway transport agreement with Turkmenistan
Price indexes of financial, industrial sectors at Uzbek stock exchange rise
Russia’s Kamaz-Leasing company opens representative office in Azerbaijan
Supply of electricity all across Kazakhstan completely resumed - gov't
Azerbaijan's Azer Turk Bank discloses volume of public deposits for 2021
Azerbaijani commandos hold training exercises (PHOTO/VIDEO)
Uzbekistan sees increase in volume of cotton fiber produced
Azerbaijan shares data on number of vaccinated citizens
Azerbaijan's Alat port receives first container train from Uzbekistan
Iran's minister of industry confirms low quality of domestic cars
Azerbaijan confirms 2,468 more COVID-19 cases, 5,197 recoveries
Foundation of new road bridge across Astarachay River laid between Iran and Azerbaijan (PHOTO)
Big rise in prices negatively affects Kazakh economy - National Bank
World Bank Lauds India's Covid Vaccination efforts but says reaching next billion 'could be challenging'
Azerbaijan names vaccines delivered under COVAX initiative in 2021
Azerbaijan's Central Bank to auction its short-term notes
Uzbekistan restores electricity supply in number of its regions
Missing World War II aircraft found in India after 77 years
Iran approves creation of national cryptocurrency
Navy holds high level meeting on creation of Maritime Theatre Command
Azerbaijan's Azer Turk Bank announces net profit for 2021
Food-processing enterprises may be built on Azerbaijan's liberated lands - deputy minister
Turkey records increase in export of ready-made clothing to Azerbaijan
Turkey’s export of steel to Azerbaijan up
Azerbaijan sees rise in domestic money supply for 2021
India Inc proposes additional 1% CSR levy for booster shots
Azerbaijan to get another batch of Sputnik V vaccine against COVID-19 in 2022
Women interested in creating business on Azerbaijani liberated lands - agency
Construction costs in Georgia's Tbilisi increase
Azerbaijan, WB discuss ways to use wind energy potential of Caspian Sea (PHOTO)
Turkmengaz opens tender to buy plant equipment
Azerbaijan Children Hotline released its report for 2021 (PHOTO)
European Commission to support agriculture reform, transition to green economy in Uzbekistan
President of Azerbaijan Ilham Aliyev calls President of Ukraine
SOCAR Turkey talks on integration of innovation solutions at STAR Refinery
Pfizer and BioNTech launch trial of Omicron-targeted COVID vaccine
French Lagazetteaz.fr online newspaper renews interface (PHOTO)
Timing of Azerbaijan-Iran intergovernmental commission's next meeting revealed
Demarcation of Armenia-Azerbaijan border to make sure no armed incidents happen - ex-CSTO Sec-Gen
Head of Development Bank of Kazakhstan dismissed
All Baku-Istanbul and Istanbul-Baku flights of AZAL postponed
J&J expects up to $3.5 bln in COVID vaccine sales this year
Iran to contribute to reconstruction of liberated territories of Azerbaijan - Iranian minister
SOCAR AQS, Iraq's IDC mull opportunities for co-op in drilling
Azerbaijan names timeframe of commissioning new bridge on border with Iran
Iran aiming to boost exports of fish products to South East Asian countries
I do hope that post-war period will open new opportunities for whole region - President Ilham Aliyev
Iranian company may become resident of industrial park in Azerbaijan - deputy PM
Abu Dhabi's Chimera closes second venture capital fund at $10 bln
Confident that Iranian companies will begin to work actively in liberated lands in near future - President Ilham Aliyev
Positive trend noted in enhancement of tax administration in Azerbaijan – minister
Georgia's giant auto dealer expanding South-West, opens branches in Ukraine, UAE
Istanbul's third airport suspends its work until January 26 - Turkish Airlines
Azerbaijan Army’s Engineering Troops continue activities on clearing roads of snow - MoD (VIDEO)
Turkmen tomatoes gaining share in foreign markets
Russia records over 67,800 COVID-19 cases in last 24 hours
Azerbaijan completing work on first "smart village" in Zangilan district
Azerbaijan, Iran may simplify border crossing procedure - minister
Azerbaijan talks results of flour, bread price monitorings
Azerbaijan, Iran sign protocol on construction of new bridge over Astarachay River (PHOTO)
New bridge over Astrachay River on Azerbaijan-Iran border to be built
‘Nar’ takes the title of Azerbaijan champion (PHOTO)
SOCAR Turkey names new target markets for Petkim’s products
Turkey reports rise in leather exports to Azerbaijan for 2021
SOCAR Turkey working on improving STAR-Petkim integration
Kazakhstan Electricity Grid Operating Company turns on all "North-East-South of Kazakhstan" transmission lines
Uzbekistan resumes operation of its airports
Karabakh to become most beautiful region of Azerbaijan soon – deputy PM
All news