Vietnam: Inflation falls to lowest level in nearly 13 years
January 5, 2015
In December, consumer prices fell 0.24% over the previous month, which followed the 0.27% decrease recorded in November. According to the General Statistics Office of Vietnam, December’s decrease mainly resulted from lower prices for housing and construction materials as well as for transport.
Annual inflation fell from 2.6% in November to 1.8% in December, which marked the lowest rate since January 2002. As a result, inflation closed the year below the Central Bank’s target of 4.0% for 2014. Annual average inflation fell from 4.4% in November to 4.1% in December and now sits at the lowest level since May 2004.
Author: Dirina Mançellari, Senior Economist