Vietnam: Inflation reaches lowest rate in nearly five years
October 1, 2014
In September, consumer prices rose 0.40% over the previous month, which was up from the 0.22% increase recorded in August and marked the fastest increase in seven months. According to the General Statistics Office of Vietnam, September’s increase mainly resulted from higher prices for food and foodstuffs as well as for beverages and tobacco.
Annual inflation fell from 4.3% in August to 3.6% in September, which marked 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 5.2% in August to 4.9% in September and now sits at the lowest level since July 2004.
Author: Dirina Mançellari, Senior Economist