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Vietnam Inflation April 2023

Vietnam: Inflation declines to year-low in April

Inflation fell to 2.8% in April below March’s 3.4%. April’s reading marked the weakest inflation rate since April 2022. The reading was largely driven by a softer increase in prices for food. Moreover, prices for housing and construction materials grew at a more subdued pace.

Annual average inflation was unchanged at March’s 3.7% in April.

Finally, consumer prices fell 0.34% from the previous month in April, below the 0.23% fall seen in March. April’s result marked the weakest reading since September 2021.

On the outlook, analysts at the EIU commented:

“A more rapid deceleration [of inflation] will take hold in the second half of 2023 as declining global energy prices translate into easing cost-push pressures across a range of goods and services, while a higher base of comparison from the year-earlier period will also come into play. The decelerating trend will continue into 2024, amid the further easing of global commodity prices.”

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