Archive for the ‘eceonomy’ Category

Inflation Rampant In Vietnam

January 29, 2008
Customers check out at a super market in Ho Chi Minh city January ...
Customers check out at a super market in Ho Chi Minh city January 17, 2008. Vietnamese are suffering from “sticker shock” as inflation hit 12.6 percent in December, driven by higher prices of food, fuel and construction material. The rise was the highest in a decade and well above the trend in other Asian emerging markets.

By Grant McCool

HO CHI MINH CITY (Reuters) – Every time Vietnamese factory worker Nguyen Thi Ha goes to the supermarket, she finds that prices on the shelves have climbed, evidence of a country facing its highest inflation rate in more than a decade. 

 Vietnamese are suffering from “sticker shock” as inflation hit 12.6 percent in December, driven by higher prices of food, fuel and construction material. The rise was the highest in a decade and well above the trend in other emerging markets in Asia.

“Prices go up all the time but wages only go up once a year,” Ha, 32, who earns less than $200 a month, remarked while standing at the meat counter of a supermarket where pork ribs were being sold for 70,000 dong ($4.35) per kg. They cost 50,000 dong ($3.10) per kg two months ago, an increase of 40 percent.

Read the rest:
http://news.yahoo.com/s/nm/20080128/lf_nm/vietnam_inflation_dc_1

Picture taken January 17, 2008.
VIETNAM/INFLATION REUTERS/Stringer (VIETNAM)

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