Vietnam: Inflation falls to lowest rate in almost six years
August 25, 2014
In August, consumer prices rose 0.22% over the previous month, which was slightly down from the 0.23% increase recorded in July. According to the General Statistics Office of Vietnam, August’s increase mainly resulted from higher prices for food and foodstuff as well as for beverages and tobacco.
Annual inflation fell from 4.9% in July to 4.3% in August, 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 5.4% in July to 5.2% in August and now sits at the lowest level since July 2004.
Author: Dirina Mançellari, Senior Economist