E ISSN: 2583-049X

International Journal of Advanced Multidisciplinary Research and Studies

Volume 4, Issue 1, 2024

Inflation Developments in Vietnam during a Period when the Economy had many Negative Factors

Author(s): Vu Thi Kim Duong


Inflation fears are returning globally. Businesses are struggling to fight the impact of rising prices of production input materials and services. Consumers also face increasing price pressure from housing prices, energy, transportation, and essential foods. The world economy is falling into a state of stagflation, along with the pressure to increase interest rates in major economies, which has and will have a significant impact on Vietnam. First of all, Vietnam's economy depends heavily on imported raw materials. The increase in energy and raw material prices and the increase in the value of the USD have a significant impact on production stability and increase the impact of cost-push inflation due to imported inflation. This creates a risk of import inflation due to the ongoing energy crisis and food price crisis in the world. For many Vietnamese people, the fear of high inflation is still very present. In the past three decades, Vietnam has witnessed hyperinflation, pushing up interest rates, causing people and businesses to fall into difficulties. Therefore, the fear of the return of inflation is always present in the subconscious. The article studies the theory of inflation, the causes of inflation, the current situation of inflation in Vietnam during the period of many negative impacts on the world economy in the period 2019-2023 and from there offers solutions. Measures to control inflation in the near future.

Keywords: Consumer Price Index, Core Inflation, General Inflation

Pages: 1284-1288

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