Vietnam: Inflation soars in December amid higher pork prices
December 29, 2019
According to the General Statistics Office of Vietnam, consumer prices rose 1.40% in December over the prior month, up from November’s 0.96% rise. December’s reading came on the back of markedly higher food prices, as African swine fever continued to curb the supply of pork.
Inflation increased from 3.5% in November to 5.2% in December, the highest rate in almost three years, amid a sharp rise in food price inflation. Core inflation increased from 2.2% to 2.8%.
Although African swine fever will likely continue to fan price pressures in the coming months, inflation in 2020 should average lower than its current level as the impact gradually fades and oil prices stay low.
Author: Oliver Reynolds, Economist