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Vietnam Inflation June 2023

Vietnam: Inflation falls to lowest level since February 2022 in June

Inflation came in at 2.0% in June, down from May’s 2.4%. June’s reading marked the lowest inflation rate since February 2022. Looking at the details of the release, prices for food increased at a more moderate rate in June, while prices for transportation dropped at a quicker rate.

In addition, the trend pointed down mildly, with annual average inflation coming in at 3.6% in June (May: 3.7%).

Lastly, consumer prices rose 0.27% in June over the previous month, accelerating from May’s 0.01% increase. June’s uptick was the largest since February.

On the outlook, analysts at the EIU commented:

“A strong El Niño weather phenomenon, bringing hot and dry weather, could add upside pressure on inflation via disruption of food supply later in the year. However, we believe that large rice stocks and surpluses of a range of other crops will limit a sharp rise in food price inflation.”

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