Vietnam: Inflation ticks higher in October
October 30, 2019
According to the General Statistics Office of Vietnam, consumer prices rose 0.59% in October over the prior month, up from September’s 0.32% increase. October’s reading was mainly driven by higher food prices, likely linked to lower pig herds due to African swine fever.
Inflation ticked up to 2.2% in October from 2.0% in September, remaining in line with the Central Bank’s target of sub-4.0% for 2019. Core inflation was stable at 2.0%. Moderate inflation so far this year can be attributed in part to muted oil prices.
Looking ahead, inflation is set to track somewhat higher than its current level on strong domestic demand, but nonetheless should stay mild.
Author: Stephen Vogado, Economist