Vietnam is unlikely to keep its Consumer Price Index (CPI) growth under 4 percent this year, Vietnam News Agency cited the National Center of Socio-economic Information and Forecast, which is affiliated with Vietnam’s Ministry of Planning and Investment, as reported on Monday.
With economic volatility still in sight until the end of 2022, it would be very challenging to reach the goal, according to Tran Toan Thang, head of the Department of Industrial and Business Forecast under the center, via the news agency.
As the Russia-Ukraine conflict shows no signs of de-escalation and Western nations are highly likely to continue imposing sanctions on Russia, the rising fuel prices will hamper the efforts to control inflation, he said.
Vietnam’s CPI rose 2.1 percent year on year in the first four months of this year. The country’s CPI growth in 2021 was 1.84 percent, the lowest level since 2016, according to the General Statistics Office.—AFP