Vietnam inflation hits 10 year low

Vietnam posted an inflation rate of 6% in December, the lowest level in the past 10 years, the government said on Monday. Minister of Planning and Investment Bui Quang Vinh said the reduced rate helped the government to stabilise the macroeconomy. The economy is expected to grow 5.4% this year, below the government's target of 5.5%. A slowdown in gross domestic product growth was caused by government efforts to tighten credit growth, to trim public investment and the budget deficit. Vinh said the 5.4% growth was reasonable considering the government's priority to contain inflation.