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Inflation hits five-year low

By Minh Son   November 29, 2021 | 01:02 am PT
Inflation hits five-year low
Customers shop at a mall in Ho Chi Minh City, November 26, 2021. Photo by VnExpress/Nhat Truc
Vietnam’s Consumer Price Index (CPI), which measures inflation, rose 1.84 percent year-on-year in the first 11 months, the lowest since 2016, according to the General Statistics Office.

This is caused by the low CPI rise in the first quarter this year and the drop in commodity prices.

But November’s CPI rose by 2.1 percent year-on-year due to rising fuel and commodity prices globally as economies start to recover from Covid-19.

Both government officials and analysts have warned of inflation risks next year.

Governor of the State Bank of Vietnam Nguyen Thi Hong said recently Vietnam will be able to keep inflation under the 4 percent threshold this year, but that there would be "very high risks" next year.

This is because Vietnam has a high trade openness and could face big risks of inflation in imports, she added.

 
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