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Vietnam Inflation January 2024

Vietnam: Inflation declines to lowest level since August 2023 in January

Inflation edged down to 3.4% in January, following December’s 3.6%. January’s result marked the weakest inflation rate since August 2023. Looking at the details of the release, prices for food declined year on year in January, while prices for transportation increased at a more moderate rate; these factors more than offset faster housing price inflation.

Accordingly, the trend pointed down slightly, with annual average inflation coming in at 3.1% in January (December: 3.3%).

Finally, consumer prices increased 0.31% from the previous month in January, accelerating from the 0.12% rise recorded in December. January’s uptick marked the highest reading since September 2023.

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