Vietnam: Inflation comes in at highest level since March in August
Inflation increased to 3.0% in August from July’s 2.1%. August’s figure marked the highest inflation rate since March, but was still well in line with the government’s target of 4.5% average inflation for the year. Looking at the details of the release, the uptick in inflation was mainly driven by a near-stabilization in transport prices, following the sharp year-on-year decline in transport prices registered in July. Moreover, price pressures for housing picked up.
Annual average inflation remained at July’s 3.5% in August.
Finally, consumer prices increased 0.88% from the previous month in August, accelerating from the 0.45% increase seen in July. August’s uptick was the highest reading since February 2022.