Vietnam strives to keep inflation rate below 4 pct this year

Source: Xinhua| 2017-10-13 20:02:57|Editor: liuxin
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HANOI, Oct. 13 (Xinhua) -- A Vietnamese deputy prime minister said on Friday that inflation rate must be kept at below 4 percent to help minimize expenses for businesses and achieve the targeted economic growth rate of 6.7 percent in 2017.

Regarding the last quarter of this year, Deputy Prime Minister Vuong Dinh Hue asked ministries and sectors to pay attention to the rising trend in petrol, gas and pork prices, Vietnam News Agency reported on Friday.

He also told the Ministry of Agriculture and Rural Development to update information about damage caused by the recent storm Doksuri and floods to manage prices of agricultural products.

Meanwhile, the Ministry of Industry and Trade needs to continue coordinating with the Ministry of Finance to use the petrol price stabilization fund appropriately, helping control petrol prices' subsequent impacts on other goods.

The State Bank of Vietnam, the country's central bank, was ordered to adjust credit growth to inflation and ensure capital is channeled into prioritized fields.

Members of Vietnam's Steering Committee on Price Management on Friday shared the view that the consumer price index (CPI) will grow by less than 4 percent this year, citing the positive outcomes of the first three quarters and price forecast for the last quarter.

The CPI growth rate declined month on month with a nine-month average increase of 3.79 percent compared to the same period of 2016. However, it grew by only 1.83 percent against last December.