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Vietnam Inflation February 2022

Vietnam: Inflation falls to lowest level since March 2021 in February

Consumer prices rose 1.00% over the previous month in February, accelerating from the 0.19% increase logged in January. February’s figure marked the highest reading since June 2021. The pick-up was broad-based, with greater price pressures recorded for food, transportation, and education prices.

Inflation came in at 1.4% in February, down from January’s 1.9%. February’s result represented the lowest inflation rate since March 2021. The annual average variation of consumer prices remained at 2.1% in February. matching January’s reading.

With a projected pickup in domestic demand penciled in for 2022, inflationary pressures should rise in turn, as consumer spending accelerates and fiscal stimulus remains robust. On the other hand, with the dong set to strengthen slightly in 2022 and monetary policy estimated to tighten throughout the year, price pressures should remain in check, with our panelists forecasting inflation to average below the government’s 4.0% target. The recent outbreaks in Covid-19 cases cloud the inflation outlook considerably, however.

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