Vietnam targets 3.3% inflation in 2025 as Government tightens price controls
Deputy Prime Minister Ho Duc Phoc said ministries must avoid complacency despite recent price stability, calling on agencies to prioritise the 3.3% CPI target, monitor global risks, and prevent domestic shortages or sudden price spikes, especially ahead of the Lunar New Year.
Vietnam aims to hold average inflation to around 3.3% in 2025, Deputy Prime Minister Ho Duc Phoc said at a Government meeting on price management on November 21, citing the need for tighter coordination between fiscal and monetary policies amidst global economic uncertainty.
According to the Ministry of Finance, consumer prices in the first 10 months of 2025 rose 3.27% from a year earlier, with most monthly increases staying below 0.2%.
Domestic supply remained stable and continued to meet consumer and business demand, while total retail sales and service revenue reached VND5.77 quadrillion (222 billion USD), up 9.3% year-on-year, reflecting an improvement in purchasing power.
The Ministry of Finance said inflation had stayed within the target approved by the National Assembly and the Government, despite adjustments in State-regulated prices such as fuel, electricity, healthcare services, school fees, and building materials.
Based on updated risk factors, the ministry outlined two scenarios for 2025, including the preferred option of keeping CPI growth at around 3.3%, and a second scenario of around 3.5%.
Representatives from the Government Office, the State Bank of Vietnam, and several ministries highlighted price movements in key goods – including food, transportation, fuel, electricity and property – remain under close watch, and recommended measures to support growth, contain inflation, and keep price management aligned with the Government-set targets.
Deputy PM Phoc said ministries must avoid complacency despite recent price stability, calling on agencies to prioritise the 3.3% CPI target, monitor global risks, and prevent domestic shortages or sudden price spikes, especially ahead of the Lunar New Year.
He also called for ensuring sufficient supplies of fuel, food, raw materials, and construction inputs as provinces accelerate public investment disbursement.
Phoc requested stronger coordination between fiscal and monetary policy to maintain stable interest rates and exchange rates and more effective management of gold prices.
He emphasised the need for transparent and timely communication to curb inflation expectations and stabilise consumer sentiment.
He also noted the need for closer oversight of social housing prices, property market, and several other sensitive items that directly affect household costs. In addition, ministries and localities need to step up market inspections, fight smuggling and commercial fraud, and quickly support households and businesses in flood-affected areas to restore production and livelihood.
Vietnam News Agency – November 22, 2025