On June 27, the Domestic Market Management Unit under the Ministry of Trade held a regular meeting to evaluate the domestic market situation in the first half of this year and predict new developments in commodity prices on the domestic market in the coming months.

According to the Domestic Market Management Unit, total retail turnover and social services of the whole country in June reached VND46,362 billion, an increase of 2.7 percent against the same period last year. During the reviewed period, Vietnam earned US$ 3.4 billion in export turnover, up 23.6 percent and US$4 billion in import value, up more than 24 percent over the corresponding period last year.

Consumer price index (CPI) in June also rose by 0.4 percent against May, driving up the CPI of the first half of this year to 4 percent. CPI increases were attributed to high prices of imported materials, particularly crude oil, thus driving up the prices of domestic commodities.

CPI increases in the first half of 2006 remained lower than that of the same period last year and were still under control (CPI in the first half of 2005 soared 5.2 percent).

However, economic experts said that prices will see no high increases thanks to sufficient supplies, huge volumes of commodities and businesses’ improved competitive capacity. CPI in July is likely to increase by 0.2-0.3 percent.