Consumer prices in August barely surge compared to July
The Office said that CPI increased 3.6 percent compared to December 2021 and 2.89 percent over the same period last year.
On average, CPI in the first eight months of 2022 increased 2.58 percent over the same period last year and inflation went up 1.64 percent, lower than the average CPI of 2.58 percent. This shows that fluctuations in consumer prices were mainly due to food prices and petrol prices.
Meanwhile, the index of industrial production (IIP) in August was estimated to increase by 2.9 percent over the previous month and by 15.6 percent over the same period last year. In the first eight months, IIP increased in 61 localities and decreased in the Mekong Delta Province of Tra Vinh and the Central Province of Ha Tinh.
Notably, the trade balance of goods in August was estimated to have a trade surplus of US$2.42 billion. In the first eight month of 2022, the trade surplus reached $3.96 billion. The same period last year saw a trade deficit $3.52 billion. The United States is Vietnam's largest export market with an estimated turnover of $77.7 billion while China is Vietnam's largest import market with an estimated turnover of $82.1 billion.
According to experts from the Ministry of Planning and Investment, the above data shows that the economy is continuing to have an optimistic recovery momentum.
