Inflation rate to be kept at between 3.59 – 3.91 percent in 2020

Deputy Prime Minister Vuong Dinh Hue said that the economic growth in 2019 is certain to exceed 7 percent, which is much higher than the inflation rate of around 2.7 - 2.8 percent.

inflation rate to be kept at between 3.59 – 3.91 percent in 2020 hinh 0
Deputy Prime Minister Vuong Dinh Hue speaks at the event. (Photo: VNA)

The Deputy PM made the remark at a meeting on December 25 with the Steering Committee on Price Management. 

According to the forecasts of the Ministry of Finance, the Consumer Price Index (CPI) is estimated to rise 2.73 percent this year. Key reasons to the increase are the adjustments to the prices of food, catering service, beverage, transport, tourism, fuel, medical services, building materials and especially the sharp rise in the price of pork. 

Deputy PM Hue said the inflation rate in 2019 is the lowest for the recent three years (3.54 percent in 2018 and 3.53 percent in 2017). It is also lower than the forecast of the Steering Committee on Price Management, which put CPI rise at between 3.3 - 3.9 percent.

VNA