Inflation in 2017 likely to stay below 4 percent: experts hinh anh 1Illustrative image (Source: VNA)

Hanoi (VNA) – Vietnam’s consumer price index (CPI) in September rose 0.59 percent, the highest level in 10 months except for August due to increasing tuition fees. However, experts said that inflation in the whole year will stand below 4 percent as such administrative changes that can be controlled.

Specialists from the SSI stock company asserted that there will be no need to worry about inflation in 2018 as credit in the rest of this year will not surge.

They also expressed hope that management officials and banks will employ careful currency policies towards long-term stability and growth.

Some 53 out of 63 localities nationwide raised tuition fees by 80-100 VND per student at all school levels, making the CPI of education services increase 5 percent in September, the start of the new academic year. The remaining 10 localities are set to do the same in the final three months of 2017, which may result in another 1 percent rise in education price.

Meanwhile, two thirds of localities are likely to raise health care prices this year depending on inflation.

So far this year, the country’s CPI rose 1.83 percent. Of which, medicine and health care services price rose 21.76 percent, while that of education increased 7.06 percent.

SSI experts said that keeping inflation below 4 percent in 2017 is feasible as food and foodstuff prices will fluctuate less thanks to stable supply.-VNA