Inflation rate stands around 3-4% in 2014

16:20 | 03/10/2014

VGP – The National Financial Supervisory Commission (NFSC) forecasted that this year’s inflation only stands around 3-4%.

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As of September this year, the inflation continued to remain at a low level within the recent two years. The education service increasing by 7.17% led to the highest inflation over the past seven months.

In September, the inflation rose by 2.25% compared to the last month of 2013 and a year-on-year increase of 3.12%.

The Gross Domestic Product (GDP) is expected to grow at 5.8% in 2014.

Over the past nine months of 2014, the Industrial Production Index saw an increase of 6.4% in comparison with the same period last year, of which the processing and manufacturing industry was up 8.2% and the electricity production and distribution up 11.2%.

The export and import turnover increased 13.2% and 12.1%, respectively, resulting in a trade surplus of US$1 billion, accounting for 0.9% of the export turnover.

Viet Nam’s total retail sales and service revenues are estimated to rise 6.2% in the nine-month period.

By Thuy Dung