Home breadcru News breadcru Policy breadcru Vietnam's finance ministry forecasts CPI to grow 3.2%-3.6% in 2023

Vietnam's finance ministry forecasts CPI to grow 3.2%-3.6% in 2023

14 Oct '23
1 min read
Pic: Shutterstock
Pic: Shutterstock

Insights

  • Vietnam's consumer price index is projected to grow between 3.2 per cent and 3.6 per cent this year, according to the finance ministry.
  • While the General Statistics Office forecast that the index, a main gauge of inflation, will expand between 3.3 per cent and 3.6 per cent, the State Bank of Vietnam estimates inflation will rise by about 3.4 per cent.
Vietnam’s consumer price index (CPI) is projected to grow between 3.2 per cent and 3.6 per cent this year, according to the finance ministry.

The index, a main gauge of inflation, will expand between 3.3 per cent and 3.6 per cent, the General Statistics Office (GSO) forecast. The State Bank of Vietnam estimates inflation will rise by about 3.4 per cent.

From now until the end of the year, price management should be flexible to tame inflation for the whole year in line with the government's target, and reduce pressure, thus facilitating inflation control next year, the ministry said.

There needs to be a plan to minimise the negative impact of price adjustments on the poor and vulnerable groups, it noted.

The ministry highlighted the need to ensure prices of essential commodities are stabilised, a news agency reported.

ALCHEMPro News Desk (DS)

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