2017- successful year in inflation control: GSOThe year of 2017 is considered a successful year in inflation control, as the average CPI increased 3.53 percent over 2016 and 2.6 percent compared to December 2016, fulfilling the target of keeping the rate under 4 percent for the whole year, said Director of the General Statistics Office (GSO) Nguyen Bich Lam. Rising prices of essential goods in the world market also pushed the import price index up by 2.57 percent and export price index up by 2.93 percent; the Producer Price Index (PPI) expanded by 2.82 percent, she noted. GSO Director Nguyen Bich Lam attributed the success in meeting inflation target for the year to efforts of ministries in encouraging businesses’ involvement in stocking goods and stablising the market. According to the GSO, the core inflation (CPI excluding food, foodstuff, fresh food, health care and education services) in December rose 0.11 percent over the previous month and 1.29 percent year on year. The average core inflation in 2017 is 1.41 percent, lower than the plan by 1.6-1.8 percent, showing the effectiveness of monetary policies.-VNA

Source: VietNamNet News December 28, 2017 02:03 UTC