Vietnam’s cost of living falls in November after 5 months of rise
Core inflation rose 2.43% year-on-year in the first eleven months of 2020.
Core inflation rose 2.43% year-on-year in the first eleven months of 2020.
Close attention should be on the capacity of the Vietnamese economy to firm up its recovery from the coronavirus crisis, noted the World Bank.
The move is aimed to keep inflation below 3% this year.
Core inflation comes at 2.52% year-on-year in the first ten months of 2020.
Vietnam’s inflation is set to remain below the government’s 4% threshold for most of the year with its average forecast at 3.5%. This should see the central bank keep lending conditions accommodative into 2021.
Core inflation rose 2.66% year-on-year in the first eight months of 2020.
Core inflation rose 2.74% year-on-year in the first seven months of 2020.
In the long term, high gold prices could affect prices of other goods, weaken the Vietnamese dong and push inflation, said expert Nguyen Tri Hieu.
The country is in need of superior reform solutions to ensure its business environment capable of competing with regional and international peers, said Prime Minister Nguyen Xuan Phuc.
While the inflationary pressure, especially driven by hikes in prices of oil and food, devalues some currencies, Vietnam’s inflation target would remain unchanged.