Vietnam Tames Inflation at 3.53% in 2017

The whole-year inflation came at 3.53%, below the government’s 4.0% target.

Vietnam Tames Inflation at 3.53% in 2017

The Vietnamese government successfully controlled inflation below 4% in 2017. Photo: Internet

Vietnam’s average consumer price index (CPI), the official gauge of inflation in the country, has increased 3.53% this year, below the parliament-mandated target of 4.0%, according to government data.

The index in December grew 2.6% from a year earlier, averaging 0.21% monthly, the General Statistics Office (GSO) said in a report on Wednesday.

Inflation was driven by price hikes in centrally-administered services such as healthcare and education, an increase of minimum salary, and other factors such as growing tourism and natural disasters, the office said.

Core inflation in December was 0.11% higher than that in November and up 1.29% from the same month in 2016.

The index of gold price, which is not included in the basket for CPI calculation, in December declined 0.12% month-on-month and rose 4.74% year-on-year.

Tuan Minh / BizLIVE 

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