Published:
Vietnam inflation rockets to 6.5%
This sharp increase is the country's first upturn in over a year.
According to BBVA Research, Vietnam’s inflation increased to 6.5% y/y in September (consensus: 5.2% y/y) from 5.0% in August, the first upturn in over a year. Until now, inflation had fallen steadily from a peak of 23% y/y in August 2011.
"If inflation were to rise in the coming months, it would further limit the central bank’s room to cut interest rates to support a slowing economy. The central bank has already lowered rates by 500bps this year, most recently in early July. We expect interest rates to remain on hold for the near-term, while inflation is likely to rise," BBVA noted.
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