Soaring prices of petroleum to increase cpi to 0.33% in april

The General Department of Statistics says CPI in April will be greatly affected by the soaring prices of petroleum because it is the input material of many commodities and production.

Since April 2, petroleum enterprises have been allowed to increase the retailed prices of E5Ron92 to more VND 1,377/ liter, Ron95 III VND 1,484 / liter. This jump will boost CPI in April to over 1.33% because it is the input material of production and many commodities. Moreover, CPI in this month is influenced by the soaring prices of electricity since late March. Thus, to keep CPI under 4% in 2019, the State should not adjust any other managed items such as medical services and education tuitions. The Ministries of Finance, Industry and Trade should  have flexible management plans and use petroleum stabilization fund to avoid shocking increase of prices./.