Inflation rate lowest in five years
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Vietnam’s inflation rate in the first 10 months was 1.81 percent, the lowest since 2016.
In October alone, inflation fell 0.2 percent from September, as lifted restrictions in localities help boost goods transport and reduce stockpiling demand, General Statistics Office reported.
Demand for electricity and water also fell as the country transitioned from summer to fall while decreasing rents also contributed to lower inflation, it added.
Gold prices fell 0.21 percent from September as global rates dropped.
Vietnam targets to keep inflation rise under 4 percent this year.
Questions & Answers
Q.What is Vietnam's current inflation rate for the first ten months of the year?
What is Vietnam's current inflation rate for the first ten months of the year?
Vietnam's inflation rate for the first 10 months was 1.81 percent. This is the lowest rate recorded since 2016, according to the General Statistics Office.
Q.What factors contributed to the decline in inflation during October?
What factors contributed to the decline in inflation during October?
Lifted restrictions helped boost goods transport and reduced stockpiling demand. Lower demand for electricity and water as summer ended, alongside decreasing rents, also contributed to the fall.
Q.Did gold prices influence the overall inflation rate in October?
Did gold prices influence the overall inflation rate in October?
Yes, gold prices fell by 0.21 percent from September. This drop was due to declining global rates and contributed to the overall lower inflation in October.
Q.What is Vietnam's inflation target for the current year?
What is Vietnam's inflation target for the current year?
Vietnam aims to keep the inflation rate rise under 4 percent for the entire year. The reported figures show the country is currently well within this target.
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