The General Statistics Office estimated that the CPI would increase in the range of 3.2%-3.5%, while inflation would rise 3.4%.

The CPI in September inched up 0.4% month-on-month, 4% against December last year, and 3.94% over the same period last year.

The January-September period saw an increase of 2.73% versus the year-ago period. Meanwhile, core inflation picked up 1.88%.

Given the increasing openness of the Vietnamese economy, global inflation has been imported into the country, sending the prices of essential goods and services in Vietnam soaring, the Ministry of Finance explained.

Fuel prices will remain volatile until the end of this year. Moreover, the prices of garments, foods and beverages, especially pork, often soar due to the high demand in the lead up to the Tet holiday.

The prices of construction materials are also forecast to surge due to high demand when the disbursement of public investment in many projects is sped up.

Source: Saigon Times