Vietnam: Inflation rises sharply in May
May 29, 2018
According to the General Statistics Office of Vietnam, consumer prices increased 0.55% over the previous month in May following a much smaller 0.08% month-on-month rise in April. Looking at a breakdown of the data, 9 out of the 11 sub-components recorded higher prices, one came in flat and the remaining category registered lower prices. Prices for traffic increased the most, remained flat for education and fell for postal services and telecommunications.
Inflation climbed sharply to 3.9% in May from 2.8% in April, rising close to the Central Bank’s target of 4.0%. Annual average inflation remained at 2.9% in April. Core consumer prices, which excludes prices for rent, electricity, water, fuel and construction materials costs, rose 0.11% over the previous month in May, after a 0.05% month-on-month increase in April. Core inflation inched up to 1.4% in April from 1.3% in March.
Author: Nihad Ahmed, Economist