Vietnam: Inflation comes in at highest level since March 2020 in December
Inflation edged up to 4.5% in December, following Novembers 4.4%. December’s result was the highest inflation rate since March 2020. The figure was primarily driven by higher price pressures for housing, energy and education. That said, transport prices fell for the first time since February 2021.
Annual average inflation rose to 3.2% in December (November: 2.9%).
Lastly, consumer prices fell 0.01% in December over the previous month, swinging from the 0.39% rise recorded in November. December’s result marked the weakest reading since December 2021.
Giving their view on the outlook, analysts at the EIU commented:
“Consumer price inflation will ease from just under 5% at the start of 2023 to near 3.6% by the end of that year, although much of the deceleration will occur in the second half of the year. Declining global energy prices will be the main driver.”