Agence France-Presse
8:22 pm | Thursday, January 24th, 2013
HANOI—Vietnamese inflation accelerated in January, official data showed Thursday, reducing expectations of further monetary stimulus to boost the flagging economy.
Consumer prices were up 7.07 percent this month from a year earlier, following a 6.8 percent rise in December, the General Statistics Office in Hanoi said in a statement. Month-on-month prices were up 1.25 percent.
The rise was due to a “sharp increase in liquidity during the last quarter of 2012 and successive reductions in policy rates, along with the seasonal effect of prices during lunar New Year,” Deepak K. Mishra, the World Bank lead economist for Vietnam, told AFP.
Authorities will have to “curb the growth rate of liquidity in the future” which should allow the inflation rate to come down in the second quarter of 2013, he added.
Read more: http://business.inquirer.net/104203/resurgent-inflation-dampens-vietnam-stimulus-hopes
