Business

Ministry forecasts CPI to grow 3.2-3.6% this year

Vietnam’s consumer price index (CPI) is projected to grow between 3.2% and 3.6% this year, the Ministry of Finance said at a meeting of the Steering Committee on Price Management in Hanoi on October 11.
Ministry forecasts CPI to grow 3.2-3.6% this year ảnh 1Vietnam’s consumer price index (CPI) is projected to grow between 3.2% and 3.6% this year. (Photo: VNA)
Hanoi (VNA) – Vietnam’s consumer priceindex (CPI) is projected to grow between 3.2% and 3.6% this year, the Ministryof Finance said at a meeting of the Steering Committee on Price Management inHanoi on October 11.

Meanwhile, the General Statistics Office (GSO) forecastthat the index, a main gauge of inflation, will expand from 3.3-3.6%. The StateBank of Vietnam said inflation is expected to rise about 3.4%.

The finance ministry held that from now until the endof 2023, price management should be flexible to tame inflation for the wholeyear in line with the Government's target, and reduce pressure, thus facilitatinginflation control in 2024.

It also stressed the need to further roll out themonetary policy proactively, flexibly and effectively in combination with thefiscal policy and other macro policies, manage exchange rates based on thesituation, and control credit growth.

Ministries, agencies and localities should proactivelyreview plans to adjust prices of State-managed goods, and public services, theministry said, noting that there needs to be a plan to minimise negativeimpacts of price adjustments on the poor and vulnerable groups.

The ministry highlighted ensuring goods for the end ofthe year and the Lunar New Year, and stabilising their prices, especially essentialgoods like oil and gas and food.

Expert Vu Vinh Phu proposed the State pay attention toadjusting the prices of goods such as oil and gas, electricity and coal andhave a roadmap announced in advance./.
VNA
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