Is Vietnam finally getting inflation under control?

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

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s