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Vietnam's CPI forecast to grow 3.2-3.6 pct in 2023

HANOI
2023-10-12 15:41

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HANOI, Oct. 12 (Xinhua) -- Vietnam's consumer price index (CPI) is forecast to grow between 3.2 percent and 3.6 percent this year, according to the latest projection of the Ministry of Finance.

Meanwhile, the General Statistics Office forecast that the CPI, a main gauge of inflation, will expand by 3.3-3.6 percent in 2023.

The country's average CPI in the first nine months of 2023 increased by 3.16 percent year on year, leaving plenty of room to maintain stability in prices, Vietnam News Agency reported, citing Deputy Prime Minister Le Minh Khai.

The Ministry of Finance said the CPI in the first nine months witnessed a year-on-year increase thanks to increasing air ticket prices and travel demand, especially during holidays.

Increases in tuition in the education sector as well as in housing and construction material prices also contributed to the general CPI rise.

In 2022, Vietnam saw the CPI rise 3.15 percent compared to the previous year, meeting the below-4 percent target set by its top legislature.

The Southeast Asian country has targeted to keep inflation at 4.5 percent in 2023.
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