The inflation rate of Vietnam is lowest from August, 2010

The inflation rate of Vietnam has reduced to the lowest rate from August, 2010. This will lead the State Bank to review the chopping policy on interesting rate to develop the economy.

According to the statistic of General Statistic Department, the CPI of Vietnam has increased to 8.34% in May over the last year, and also increased to 0.18% over the last month. The inflation rate in May reached the record lowest compared to August, 2010 (23%).

b2b Vietnam - The inflation rate of Vietnam is lowest from August, 2010

The economic expert of Hochiminh City Bank Institute, Mr. Le Tham Duong, said that, the State Bank now can review the chopping policy on interesting rate to develop the economy. According to him, the State Bank should implement it soon.

Influenced the increasing inflation in the last February, Vietnam has changed its focus from growth to inflation limitation.

However, the effort in inflation limitation has held back the growth speed. The GDP in the 1Q only increased to 4% over the last same period. It was also the lowest level in the last three years.

Prime Minister, Mr. Nguyen Xuan Phuc said that, Vietnam’s economy is having some signs to slow down. It is predicted that the goal of 6% in GDP growth will be hard to be achieved.

The governor of Vietnam State Bank, Mr. Nguyen Van Binh said that, the State Bank will axe the interesting rate to 1% per quarter if the inflation keeps reducing.