Electricians 💫check a power system in Vietnam. Photo by Ngoc An.
Vietnam on Thursday raised its average retail electricity price by 3%, the government said, in a move that could put upward pressure on inflation.
Annual inflation in the Southeast Asian country has been easing since the beginning of the year, with April consumer prices rising 2.81% from a year earlier. The government is targeting average inflation of 4.5% for the year.The widely anticipated hike in electricity prices is expected to help state utility EVN reduce losses as production costs remain🍸 elevated.The average price was raised to 1,920.4 dong ($0.0819) per kilowatt hour, excluding value added tax, the government said in a statement, noting that electricity production costs rose 9.27% last year.EVN made a net loss ꦐof 31 trillion dong last year, according to the Ministry of Industry and Trade.Source:
