This year’s CPI expands 3.54% from 2017: GSO

2018 is considered a successful year in controlling inflation as the average consumer price index (CPI) rises by 3.54% from 2017 and 2.98% from last December, meeting the CPI growth target of under 4%.

this year’s cpi expands 3.54% from 2017: gso hinh 0

The information was released at a press conference of the General Statistics Office (GSO) in Hanoi on December 27.

Director of the GSO’s Price Statistics Department Do Thi Ngoc pointed out several factors that lead to price hike, including the scheduled increases of medical service prices, tuition fees, and the region-based minimum wage for employees at businesses that has subsequently led to higher prices of household appliances and house repair, electricity and water equipment installment and repair, and domestic help services.

Other contributors to the CPI expansion include price rises of food, public transport services, gas, house rental, petrol and tourism services.

GSO Director General Nguyen Bich Lam said sectors and authorities at all levels have actively taken measures to keep the CPI expansion at less than 4% as targeted by the National Assembly.

In 2018, the US Federal Reserve raised the benchmark interest rate four times, which has made the US dollar appreciate against other currencies, thus resulting in a higher USD/VND exchange rate.

However, thanks to the State Bank of Vietnam’s efforts in setting the daily reference exchange rate in comparison to eight key currencies, the USD price in the domestic market has still been kept within the trading band of +/-3%.

Meanwhile, domestic gold prices have fluctuated in line with global ones, Lam noted.

The core inflation, which is the CPI excluding food items, energy products and State-managed commodities (healthcare and educational services), in December increased by 0.09% from last month and 1.7% from the same period last year. The whole year’s figure climbed 1.48% from 2017, according to the GSO.

During its recent session, the National Assembly still maintained the inflation target of about 4% for the next year.

VNA

Other News

Private economic sector poised for breakthrough growth

Private economic sector poised for breakthrough growth

More than a year after the Politburo's Resolution No. 68-NQ/TW on private sector development came into effect, expectations now extend beyond increasing the number of enterprises. The goal is to build a stronger business community with greater resilience, larger ambitions and the capacity to compete in global supply chains.

Vietnam remains ASEAN growth leader in 2026 despite global headwinds: WB

Vietnam remains ASEAN growth leader in 2026 despite global headwinds: WB

Vietnam is expected to remain one of ASEAN’s fastest-growing economies in 2026, supported by resilient exports, strong investment inflows and an ambitious reform agenda, despite mounting global uncertainties, according to the World Bank’s latest Vietnam Economic Update released on May 15.

Ministry establishes monitoring framework for carbon market

Ministry establishes monitoring framework for carbon market

Under a new circular, the exchange of greenhouse gas emission quotas and carbon credits is conducted on the domestic carbon credit exchange through the carbon trading system, which is interconnected with the national registration system.

Biofuel ready for nationwide rollout

Biofuel ready for nationwide rollout

For biofuels, particularly E10, to develop successfully, stronger and more coordinated policies are needed, especially pricing mechanisms capable of creating a sufficiently attractive gap between E10 and mineral-based petrol, an expert has said.

Vietnamese farm produce promoted at African investment, trade forum

Vietnamese farm produce promoted at African investment, trade forum

The 12th Africa Forum for Investment & Commerce (AFIC 12) opened in Algiers, the capital of Algeria, on May 9, drawing around 2,000 participants, including officials, economists, businesses, financial and development organizagtions from 43 African countries and international partners, including Vietnam.

Int'l medical, pharmaceutical expo opens in Hanoi

Int'l medical, pharmaceutical expo opens in Hanoi

The exhibition, which runs until May 9 at the Hanoi International Centre for Exhibition, showcases advanced products and technologies across a range of fields, including pharmaceuticals, drug manufacturing machinery and equipment, medical devices, hospital and clinic services and dental equipment.

Mega projects to transform Ho Chi Minh City urban landscape

Mega projects to transform Ho Chi Minh City urban landscape

Leading the charge in this massive building spree is the new central city square in the core of the Thu Thiem new urban area. Spanning more than 20 ha, it’s the crown jewel of the Central Square and new administrative center complex.

Vietnam establishes itself as one of region’s most dynamic manufacturing and supply bases

Vietnam establishes itself as one of region’s most dynamic manufacturing and supply bases

The country’s stable political and economic environment provides a critical foundation for long-term sourcing strategies. At the same time, Vietnam has demonstrated a strong ability to scale up manufacturing, supported by a continuously expanding industrial base capable of meeting both high-volume demand and increasingly complex technical and quality requirements.

Vietnamese pomelos gain broader access to Australian market

Vietnamese pomelos gain broader access to Australian market

The update by Australia’s Department of Agriculture, Fisheries and Forestry to its Biosecurity Import Conditions system (BICON) on April 10, officially setting out import conditions for Vietnamese pomelos, is regarded as a major milestone in market access efforts.

Vietnam's industry spearheads transition to circular economy

Vietnam's industry spearheads transition to circular economy

The circular economy is no longer just a policy choice. It has become an inevitable trend for delivering sustainable and green growth, sharpening competitiveness at home and abroad, and meeting Vietnam’s net-zero emissions target by 2050. It is now a prerequisite to sustain long-term economic expansion, particularly in industrial production and supporting industries.

Nearly 100 tonnes of Vietnamese fruits, vegetables airlifted to UAE

Nearly 100 tonnes of Vietnamese fruits, vegetables airlifted to UAE

Vietnamese fresh produce and processed foods are increasingly recognised for their quality, with items such as cashew nuts, coffee and spices gaining popularity among Middle East consumers. In 2025, Vietnam’s farm produce exports to the UAE exceeded 445 million USD, up nearly 24% year-on-year.