Vietnam: Inflation falls to lowest level in five years
October 27, 2014
In October, consumer prices rose 0.11% over the previous month, which was down from the 0.40% increase recorded in September and marked the slowest increase in six months. According to the General Statistics Office of Vietnam, October’s increase mainly resulted from higher prices for education as well as for medicine and health care.
Annual inflation fell from 3.6% in September to 3.2% in October, which marked the lowest rate since October 2009. Inflation remains well below the Central Bank’s target of 7.0% for 2014. Annual average inflation fell from 4.9% in September to 4.7% in October and now sits at the lowest level since June 2004.
Author: Dirina Mançellari, Senior Economist