Inflation rate ‘acceptable’, says finance institute

The basic inflation rate in the first half of this year was 3.75% and climbed to 4.01% in July compared with the consumer price index of 7.7% in January-July period as seminar on finance and monetary measures to stabilise inflation heard on July 28.

“This base inflation rate is acceptable because as assessed by many economists, an inflation rate is considered acceptable as long as the rate does not exceed two thirds the GDP rate of increase [currently around 7%],” said Nguyen Dang Nam, vice director of the Institute for Financial Science under the finance ministry.

 

Category: Economy