Vietnam: Inflation comes in at highest level since March 2020 in November
Inflation inched up to 4.4% in November, above Octobers 4.3%. November’s figure marked the highest inflation rate since March 2020. The pickup was primarily driven by rising price pressures for housing and food. That said, price pressures for transport fell.
Annual average inflation rose to 2.9% in November (October: 2.7%).
Lastly, consumer prices rose 0.39% from the previous month in November, picking up from October’s 0.15% increase.
On the outlook, analysts at the EIU commented:
“We forecast that consumer price inflation will accelerate to an annual average of 3.2% in 2023 but will record a declining trend in the second half of the year to about 2% by end-2023. The softening of consumer prices will be driven by a declining trend in global oil prices next year.”