|Inflation in Vietnam this summer is at its lowest level in more than seven years. According to a new government report, consumer prices in August are 2% above prices in August 2008. The last monthly report showing as low an increase was January 2002.
Policy makers moved aggressively late last year to control inflation by curbing credit growth. Also, prices of oil, rice and other commodities have moderated.
Even so, recent analyst reports have predicted inflation in Vietnam will soon accelerate and exceed 6% by the end of the year. Meanwhile, the central bank plans to limit credit growth to 25% in 2009.
More on Vietnam inflation