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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Vietnam inflation rate hits 23 percent AP - Thursday, December 25 HANOI, Vietnam - Vietnam's inflation rate reached nearly 23 percent in 2008, the highest in nearly two decades, according to government figures released Thursday. The consumer price index rose 22.97 percent in the past 12 months, the government said, the highest since inflation hit 67 percent in 1991. The government usually releases economic data before the end of the reporting period based on estimates. Food prices leaped 49.16 percent from a year earlier, prices of housing and construction materials increased 20.51 percent, and transportation prices rose 16 percent, the General Statistics Office said in a statement. Soaring inflation has led to a wave of strikes at factories around the country by workers seeking higher wages. Vietnam's economy has expanded an average 7 percent a year the past decade, but began overheating last year with inflation skyrocketing and the trade deficit ballooning. The government has predicted an annual growth rate of 6.23 percent for 2008. Last year the country's economy expanded by 8.5 percent. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Business Dollar slips against yen in Christmas tradeAFP - 23 minutes ago Vietnam inflation reaches 22.97 percent in 2008AFP - 26 minutes ago Kamezaki:BOJ should eye longer-term rates if neededReuters - 34 minutes ago Turkey - Factors to Watch on Dec 25Reuters - 34 minutes ago Takeda to cancel 3.1 pct of own shares outstandingReuters - 39 minutes ago Most Popular – Business Viewed US sees no holiday cheer; Russia, China warn of grim 2009 French investor takes life after massive losses in Madoff scandal Housing market feels more pain, bottom not yet in sight Quake zone hero pig named China's animal of the year Actress Jennifer Aniston appears naked in GQ magazine View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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