CPI forecast to increase 0.3% in October

October 21, 2024 15:21 VH Print article

ANTD.VN - The Center for Industry and Trade Information ( Ministry of Industry and Trade ) forecasts that the consumer price index (CPI) in October 2024 may increase by about 0.3% compared to the previous month.

CPI this year is forecast to still reach the set target.

According to the Center for Industry and Trade Information, the main reason for the CPI increase of 0.29% in September compared to the previous month was due to the storm No. 3 (storm Yagi) which had a severe impact and caused serious damage to agricultural production, fisheries and the transportation system in some northern provinces, leading to a local shortage of food, vegetables and fruits at some points, causing prices to increase in some provinces.

In addition, some localities have increased tuition fees according to a roadmap; housing rental prices have also increased.

However, investment, industrial production, import and export activities of the whole country in September 2024 were still quite positive and vibrant. The domestic market quickly stabilized, the supply of goods was basically still guaranteed, fully and promptly meeting the essential consumption needs of the people.

Therefore, after 9 months of 2024, inflation control achieved quite positive results when the average CPI increased by 3.88% over the same period last year, below the inflation control target of 4 - 4.5%.

However, according to the Center for Industry and Trade Information, uncertain geopolitical and economic factors in the world may have negative impacts on growth as well as CPI in the last months of the year.

On the contrary, many localities have quickly and urgently restored production and business activities, and the management agencies have closely ensured the connection between supply and demand of goods, which will be factors that reduce the impact on the increase in prices of goods as well as the consumer price index.

In addition, State management agencies will have appropriate management plans for State-priced goods and public services following the market roadmap to avoid resonance impacts on CPI.

In addition, favorable factors from foreign markets such as the prices of gasoline, steel and raw materials in the world market have decreased, the Fed has reduced the basic interest rate, thereby reducing pressure on the exchange rate, which will make the consumer price index still able to ensure the target set by the National Assembly.

Based on the synthesis and analysis of impact factors, the Center for Industry and Trade Information forecasts that the CPI in October 2024 may increase by about 0.3% compared to the previous month.

Source: https://www.anninhthudo.vn/du-bao-cpi-thang-10-tang-03-post593170.antd