Vietnam’s inflation hits 16 percent in first halfBy AP News Jun 24, 2011 1:30PM UTC
HANOI, Vietnam (AP) — Vietnam’s inflation rate has surged to 16 percent in the first half of this year against the same period last year, driven by price increases in food, housing, education and transport.
The government’s General Statistics Office says food prices have increased 20.6 percent, housing prices are up 18 percent while transport and education costs soared nearly 12 percent and 24 percent respectively.
Inflation in June alone hit 20.8 percent from a year ago, it said in a report Friday. Inflation for all of last year was 11.5 percent.
The GSO often releases economic data before the end of the month, based on estimates.
The government has introduced a series of measures including raising interest rates and cutting public spending to try to tame one of Asia’s highest inflation rates.