Vietnam inflation seen at 17-18 pct by end-2011: report

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VegetablesVietnam is likely to end the year with an inflation rate of 17-18 percent, the Vietnam Economic Times newspaper quoted Planning and Investment Minister Vo Hong Phuc as saying.

“We consider the most satisfactory rate to be containable by the year end at 17-18 percent,” Phuc was quoted as saying before a cabinet meeting this week.

Earlier this month, the government raised the inflation target for this year to 15 percent from 11.75 percent and cut the economic growth forecast to 6 percent from the 6.5 percent set last month.

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