CPI forecast for November to increase by about 0.1 - 0.15%

ANTD.VN - The Center for Industry and Trade Information (Ministry of Industry and Trade) forecasts that the consumer price index (CPI) in November 2024 may increase by about 0.1 - 0.15% compared to the previous month.

Consumer price index forecast not to increase sharply

According to the Center for Industry and Trade Information, the world economic recovery is uneven and contains many risks and instabilities, but the domestic socio-economic situation continues to maintain a positive trend, creating momentum for growth in the final months of the year.

Accordingly, the Vietnam Manufacturing Purchasing Managers' Index (PMI) in October 2024 is estimated to have increased to over 51 points, a sharp increase compared to 47.3 points in the previous September. Consumer goods and services prices are stable at a low level, the supply of goods is abundant, and purchasing power continues to recover, but at a slow pace.

Notably, CPI is under control and the room to control inflation in 2024 according to the National Assembly's target is still quite large.

The Center for Industry and Trade Information forecasts that the average CPI for the whole year will not exceed 4% due to many factors that reduce pressure on the price level such as: Global inflation cooling down helps Vietnam reduce pressure from the inflation import channel, while helping to improve psychological factors, expectations, and support inflation control;

Some tax support policies continue to be implemented such as support for reducing environmental tax on gasoline and oil, reducing value added tax, contributing to reducing the cost of forming prices of goods and services; Food supply is still quite abundant.

In addition, a major factor is that demand is still quite weak, consumers are still cautious in spending. Some factors that put pressure on price levels in the remaining months of 2024 include: Electricity prices, education service prices, medical examination and treatment service prices may be adjusted up according to the roadmap; Steel and cement prices increase due to increased input material prices.

In addition, prices of raw materials, goods and essential consumer services may increase slightly during the year-end holidays.

From the above analysis, the Center forecasts that the CPI in November will increase by about 0.1 - 0.15% compared to the previous month.

Source: https://www.anninhthudo.vn/du-bao-cpi-thang-11-tang-khoang-01-015-post595462.antd