Vietnam: Inflation hits nine-month low in May
May 24, 2013
In May, consumer prices decreased 0.06% over the previous month, which contrasted the 0.02% increase recorded in April. According to the General Statistics Office of Vietnam, lower prices for food and foodstuffs as well as for housing and construction materials were partially offset by higher prices for medicine and healthcare.
As a result of the subdued monthly reading, annual inflation edged down from 6.6% in April to 6.4% in May, which marks the lowest print since August 2012. As a result, annual average inflation fell from 6.7% in April to 6.5% in May, the lowest level observed since June 2010.
FocusEconomics Consensus Forecast panellists expect headline inflation to average 7.5% in 2013, which is down 0.3 percentage points from last month's forecast. According to the panel, average inflation will accelerate to 7.8% in 2014.