Vietnam’s economy has made good recovery since the beginning of this year; however, inflation risks could weight on the country’s growth outlook, according to experts.

Vietnam’s consumer price index (CPI) is projected to grow between 3.2% and 3.6% this year, the Ministry of Finance said at a meeting of the Steering Committee on Price Management in Hanoi on October 11.

Price control work was effective in the first nine months of this year, with the average consumer price index (CPI) in the period up 3.16% year on year, leaving plenty of room to maintain stability in prices, said Deputy Prime Minister Le Minh Khai.

VOV.VN - Although Vietnam’s nine-month growth rate stood only higher than those seen in the same period in 2020 and 2021 over the past 12 years, it has shown the gradual recovery of the local economy on a quarterly basis, with the growth of 3.28% recorded in quarter I, 4.05% in quarter II, and 5.33% in quarter III.

The September CPI in Ho Chi Minh City increased by 0.56% from August, with rises seen in the prices of eight out of 11 groups of commodities used to calculate the index.

VOV.VN - The Vietnamese economy has shown signs of improvement and positive recovery, Prime Minister Pham Minh Chinh said, while asking localities and ministries to devise effective solutions in all fields so as to maintain growth momentum ahead in the remaining months of the year.

VOV.VN - Vietnam’s gross domestic product (GDP) in the third quarter of the year grew by 5.33% on-year while the consumer price index (CPI) in September soared by 1.08% compared to the previous month, according to the General Statistics Office (GSO).

VOV.VN - The rising prices of petrol and domestic rice in line with global prices have pushed Vietnam’s consumer price index (CPI) during the eight-month period to 3.1% on-year, according to the General Statistics Office (GSO) on August 29.

Vietnam’s economic growth is likely to rebound in 2024 and 2025, according to Dorsati Madani, Senior Economist at the World Bank (WB).

VOV.VN - Through the strong political determination shown by the Communist Party of Vietnam and its General Secretary Nguyen Phu Trong, the country has successfully recorded significant results in combating corruption.