Low CPI spurs retail trade growth

The total revenue from retail trade and services reached approximately US$48.5 billion during the first four months of this year, the General Statistics Office (GSO) said.

The total revenue from retail trade and services reached approximately US$48.5 billion during the first four months of this year, the General Statistics Office (GSO) said.

The figure represents a year-on-year rise of 8.8%, GSO said, adding that the increase would be 8% if inflation was excluded.

The total retail sales growth (inflation excluded) during the period was fairly higher than what was recorded during the four months of 2014 at 5.5 percent, four months of 2013 at 4.6% and four months of 2012 at 6.6%, GSO noted.

GSO statistician Vu Manh Ha attributed such encouraging growth to a slumping consumer price index (CPI). The average CPI growth for the first four months was 0.13%, compared to 0.22%; 0.60% and 0.64% seen during the same periods of 2014, 2013 and 2012, respectively.

From January to April, the non-State owned sector accounted for the largest share of the nation's total retail sales revenue at 85.7% or more than US$41.57 billion.

Ha also predicted that the total revenue for retail trade and services was likely to increase in the coming time, owing to several upcoming and long holidays, which were expected to improve revenue earned from tourism and services.