Vietnam: Inflation stable in December
December 28, 2018
According to the General Statistics Office of Vietnam, consumer prices fell 0.25% over the prior month in December, following the 0.29% decline registered in November. A breakdown of the data showed that 2 out of the 11 sub-components logged lower prices, with traffic showing the largest drop in prices—likely on account of falling global crude oil prices—while housing and construction materials also experienced falling prices in December. Meanwhile, the remaining sub-components saw flat or muted price increases in the month.
Inflation was unchanged at November’s 3.5% in December, remaining below the Central Bank’s target of 4.0%. Meanwhile, annual average inflation ticked up to an over one-year high of 3.6% in December from 3.5% in November.
Core consumer prices, which excludes prices for rent, electricity, water, fuel and construction materials, rose 0.09% over the previous month in December, down marginally from the 0.13% month-on-month increase in the previous month. Finally, core inflation was stable at 1.7% in December.
Author: Lindsey Ice, Economist