Business

Vietnam should stay proactive to cope with inflationary pressures

Although the average consumer price index (CPI) in 2023 increased by only 3.25% year-on-year and the January figure went up 0.31% over the previous month, meaning that inflation is under control, it is necessary for Vietnam to be vigilant against inflation, according to the Investment Review.
Vietnam should stay proactive to cope with inflationary pressures ảnh 1Illustrative image (Photo: VNA)

Hanoi (VNA) – Although the average consumer price index (CPI) in 2023 increased by only 3.25% year-on-year and the January figure went up 0.31% over the previous month, meaning that inflation is under control, it is necessary for Vietnam to be vigilant against inflation, according to the Investment Review.

The world economic environment also requires the country to be ready and take proactive measures to deal with inflation.

In fact, inflation remains at a low level and even though the Lunar New Year (Tet) festival is approaching, increasing consumer demand could impact the CPI in February, but at a reasonable level. 

Goods are sufficient to meet the demand during Tet. The Government, market management agencies, and localities have also prepared measures to ensure price stability during Tet.

However, according to forecasts, inflation will be unpredictable this year due to various elements such as hiking prices of electricity, medical or educational services, as well as the increase in basic salaries from July.

At its latest meeting, the Price Management Department under the Ministry of Finance proposed three scenarios for inflation with average CPI increases of 3.52%, 4.03% and 4.5%. In all the scenarios, inflation remains within the target set by the National Assembly.

Vietnam should stay proactive to cope with inflationary pressures ảnh 2According to forecasts, inflation will be unpredictable this year due to various elements such as hiking prices of electricity, medical or educational services, as well as the increase in basic salaries from July 2024 (Photo: VNA)

Recent forecasts from international institutions such as the Asian Development Bank, World Bank and HSBC regarding Vietnam's 2024 inflation are quite positive.

However, inflationary pressures remain, particularly when it is difficult to predict market and global economic developments. Therefore, it is important to adopt a proactive and flexible approach, ensuring good control of inflation in line with the objectives set by the National Assembly, including closely monitoring the situation to quickly take appropriate management measures./.

VNA
#consumer price index #Vietnam Plus #Vietnam News Agency #. consumer demand #inflation #Price Management Department
Follow VietnamPlus

Related News

National CPI up 3.25% in 2023

National CPI up 3.25% in 2023

Vietnam’s consumer price index (CPI) in 2023 is estimated to rise 3.25% year-on-year, meeting the target set by the National Assembly (NA), the General Statistics Office (GSO) reported on December 29.

See more

An overview of a meeting between Politburo member and Secretary of the Hanoi Party Committee Tran Duc Thang and representatives of Saint Petersburg businesses. (Photo: VNA)

Saint Petersburg’s metro expertise valuable for Vietnam

As Hanoi implements its master plan with a 100-year vision, in which metro lines are identified as the backbone of the capital city’s transport network, Secretary of the municipal Party Committee Tran Duc Thang met with representatives from several Saint Petersburg companies specialising in urban rail development.

An art performance at 2026 Dak Lak Durian Festival. (Photo: VNA)

Dak Lak Durian Festival seeks to elevate Vietnam’s agricultural brand globally

Dak Lak has about 41,000ha of durian, with this year’s output estimated at nearly 500,000 tonnes. The province has 280 growing-area codes covering around 7,500ha, along with 41 packing facilities approved for export. In 2025, Dak Lak’s durian sector contributed about 1.1 billion USD to the country’s export turnover.

Delegates cut the ribbon to inaugurate the Ho Chi Minh City-Shenzhen direct air route. Photo: baodautu.vn

Vietravel Airlines launches direct Ho Chi Minh City-Shenzhen route

Vietravel Airlines' new route connects Tan Son Nhat International Airport (SGN) in Ho Chi Minh City with Shenzhen Bao'an International Airport (SZX), meeting growing demand for travel between the two markets for investment, trade, tourism and visiting relatives.

Thanks to digital transformation among local officials, Tam Dao commune of Phu Tho province has achieved an almost 100% on-time rate for processing administrative applications, helping improve public services for residents. (Photo: VNA)

Institutional reform fuels private sector's growth in Phu Tho province

The private sector is increasingly emerging as a key growth engine of the economy. To unleash its potential and ensure sustainable development, the northern province of Phu Tho is stepping up institutional and administrative reforms to cut costs, shorten procedures, and build a more transparent, business-friendly investment climate.

Hoa Phat Wharf inside the Dung Quat Economic Zone (Photo: VNA)

Dung Quat EZ, Quang Ngai IPs draw nearly 19.4 bln USD

The Dung Quat Economic Zone and Quang Ngai industrial parks have so far attracted 441 projects worth around 19.4 billion USD, according to the Dung Quat Economic Zone and Quang Ngai Industrial Parks Authority (DEZA).

The Kim Long Motor Hue factory (Photo: VNA)

Hue courts capital to turn industrial zones into growth engine

The economic and industrial zones in Hue city host more than 200 active investment projects worth over 152 trillion VND (5.84 billion USD), with 139 already operational. Since the start of 2026, they have generated about 32 trillion VND, contributed 4.2 trillion VND to the state budget and brought in 730 million USD in exports, while employing more than 46,000 workers.

Processing cashew nuts for export at Nguyen Thong Co., Ltd. in Dak Lak province. (Photo: VNA)

Vietnam’s exports to New Zealand post strong growth

According to the Customs Department, two-way trade reached 844 million USD in the first half of 2026, of which Vietnam’s exports to New Zealand totaled 399.7 million USD, up 18.8% year-on-year, while imports stood at 444 million USD.

Starting from September 2026, agricultural products from the Mekong Delta are expected to be transported directly from Cai Cui Port to Guangxi, China. (Photo: VNA)

Investing in logistics to boost agricultural production and exports

Logistics is increasingly becoming a major bottleneck for exports as transport costs rise and requirements for data management, low emissions and supply chain transparency become more stringent, requiring coordinated investment in logistics infrastructure, data infrastructure and transport capacity.

Harvesting rice in the Mekong Delta (Photo: VNA)

Vietnam seen as gateway for Canadian farm produce to ASEAN

As Canada steps up trade diversification and seeks to reduce its dependence on the North American market, Vietnam could serve both as a market for Canadian goods and a base for Canadian businesses to build production capacity and expand operations in the region.