Annual CPI kept at 3.63%, enabling economic growth in 2025
The 3.63% increase in the consumer price index (CPI) for the whole of 2024 not only reflects the Government's efforts in price management, but also demonstrates the economy's resilience against external "headwinds".
The CPI in December was up 0.29% compared to the previous month. The slight increase demonstrates year-end market stability. (Photo: VietnamPlus)
Hanoi (VNA) - Amidst unpredictable fluctuations in the global economy, Vietnam successfully kept the CPI under control a🔯chieving the target set by the National Assembly for 2024 at 3.63%.
The number was released at a press conference organised in Hanoi on January 6 by the General Statistics Office (GSO) to announce socio-economic statistics for the fourth quarter and 2024.
Inflation kept at reasonable level
Nguyen Thu Oanh, Director of the GSO’s Department of Price Statistics, said that the Q4 index increased 2.87%, and that in December increased 2.94% year-on-year. She attributed the increase to the rising price of rice following export trends, food services, the impact of natural disasters, and growing demand during the holidays. Specifically, food prices grew by 12.19% year-on-year, rice up 15.93%, and catering services up 3.99%. The prices of housing, electricity, water, fuels, and construction materials expanded by 5.2% year-on-year. In addition, the prices of drugs and medical services increased by 7.16%; educational services up 5.37%, and transportation up 0.76%.
In December, a sharp drop in fresh vegetables precipitated declines in the catering services by 0.13%, and food prices down 0.3%. (Photo: VietnamPlus)
Meanwhile, post and telecommunications prices in 2024 contracted by 1.02% compared to 2023 due to the decrease in the prices of old-generation phones as businesses launched discount programmes to stimulate demand for smartphones. Domestically, in December, the gold price decreased by 1.38% compared to the previous month, but rose 31.07% over the same period last year. For the whole year, gold is up 28.64%. The average US dollar price in the free market was around 25,488 VND, representing a rise of 4.91% year-on-year.
Fruits come from concerted efforts
The CPI fluctuated in 2024, but most importantly, average CPI increased 3.63% compared to 2023, achieving the target set by the National Assembly. This is a result of the continuous efforts of the Government and relevant agencies in controlling inflation and ensuring macroeconomic stability.
To control inflation, Oanh said that the Government monitored market developments, adjusting prices of essential goods, preventing prices from spiking due to shortages. Along with that, the Government’s monetary policy has helped reduce lending interest rates and stabilised the foreign exchange market.
Circulation and distribution of goods and services remained fluid and supply was stable. (VietnamPlus)
"Domestically, the Government and the Prime Minister have proactively, resolutely, and closely directed ministries, branches, and localities to promote growth, maintain macroeconomic stability, and control inflation. Accordingly, prices of goods and services are stable, and inflation is under control," she noted.
Regarding fiscal policy, she emphasised policies to reduce the value added tax, environmental protection tax on gasoline, exemption and extension of taxes, fees, and land use fees. At the same time, the market remained fluid, promoting the circulation of goods and services to maintain stable supply.
The core inflation, which reflects the real "health" of the economy, recorded an increase of 2.71% in 2024, lower than the average CPI increase. Oanh said that excluding global price fluctuations and policy, internal inflation was under control, reflecting the stable "health" of the economy./.
Vietnam’s consumer price index (CPI) in 2024 rose 3.63% year-on-year, meeting the target set by the National Assembly (NA), the General Statistics Office (GSO) reported on January 6.
Vietnam's consumer price index (CPI) for November rose by 0.13% from the previous month and 2.77% compared to the same period last year, announced the General Statistics Office (GSO) on December 6.
Vietnam’s consumer price index (CPI) rose by 3.48% in the third quarter of 2024 compared to the same period last year, mainly fueled by the increasing prices of food in localities directly affected by Typhoon Yagi, and housing and education services, according to the General Statistics Office (GSO).
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
