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Ninh Binh's consumer price index (CPI) in July increased by 1.95% and 4.58% from the figures in the previous month and the same period last year, respectively. On average, the province's CPI rose by 2.46% in the first seven months of 2022, the highest level since the beginning of the year. Therefore, Ninh Binh needs to have prompt and synchronic measures to minimise the pressure of inflation in the year-end months.
Rising fuel costs along with higher food prices and transport costs during the Lunar New Year break were the main factors driving high inflation. But, unlike previous years, prices have not dropped back to prior levels, remaining inflated instead.
The COVID-19 pandemic has caused severe impacts in many fields. Thanks to its good performance in disbursing public capital investment, Ninh Binh has created an important driving force for its economic growth, infrastructure development and a new appearance for the province after 30 years of re-establishment.
