Vietnam think tank forecasts 2014 inflation at 3-4 pct

By T.Xuan, Thanh Nien News

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Photo: Bloomberg Photo: Bloomberg
The National Financial Supervisory Commission has predicted that Vietnam’s inflation rate will finish out at 3-4 percent this year.
In a report on the economy between January and September, the committee said that the consumer price index (CPI), a closely watched measure of inflation, is on an upward trend.
The committee said the whole-year CPI would be around 3-4 percent assuming there are no big hikes in the cost of goods and products.
While holding up the reduced CPI as a bright spot for the country’s economic picture in 2014, the committee said difficulties remain for local businesses. As many as 48,330 companies ended or suspended operations between January and September, up 13.8 percent annually.
The report blamed slow improvements in personal consumption and low personal investment for the figure.
In March, HSBC cut its inflation forecast for Vietnam this year to 6.5 percent from the previous 7.3 percent.

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