Vietnam: Inflation quickens in July as oil prices shoot up
July 24, 2013
In July, consumer prices rose 0.27% over the previous month, which came in well above the 0.05% increase recorded in June. According to the General Statistics Office of Vietnam, the jump was due to higher transportation costs, driven by a sharp increase in oil prices.
As a result of the monthly increase, annual inflation rose to 7.3% in July (June: 6.7%), its highest level in 14 months. Annual average inflation rose from 6.5% in June to 6.7% in July.
FocusEconomics Consensus Forecast panellists expect headline inflation to average 6.6% in 2013, which is down 0.2 percentage points from last month's forecast. According to the panel, average inflation will accelerate to 7.5% in 2014.