Vietnam’s consumer prices rose 20% percent in November, which is progress considering the even more alarming 22% increase in October, suggesting the government may be starting to get Asia’s worst inflation rate under control. The cost of living rose less than 0.4% between October and November.
International investors are hoping Vietnam’s government continues to prioritize the fight against inflation that started nearly a year ago and has been painful for domestic and foreign businesses and investors. The policies stalled the country’s rapid economic growth as crippling inflation has been accompanied this year by a 7.2% devaluation of Vietnamese currency, an 18% drop in the VN stock index, and a significantly lower rate of economic expansion (5.7%).
Among other key data for Vietnam: Exports are up 35% so far this year to $87.2 billion, and food prices are up 28% percent.
More in controlling inflation in Vietnam