Vietnam Inflation Rate Rises to 4-Month High

Vietnam’s inflation rate eased to 4.45% year-on-year in July 2026 from 4.69% in the previous month. Price growth grew at a softer pace in food and non-alcoholic beverages (4.63% vs 4.89% in June), alcoholic beverages and tobacco (4.13% vs 4.21%), housing and utilities (6.71% vs 7.17%), and transportation (3.66% vs 5.29%). On the other hand, costs increased in clothing and footwear (2.29% vs 2.19%), education (3.63% vs 3.39%), household equipment (3.21% vs 3.17%), health (1.24% vs 1.20%), information and communication (0.38% vs 0.13%), recreation and culture (3.65% vs 3.32%), and miscellaneous goods and services (5.91% vs 4.08%). On a monthly basis, consumer prices fell 0.12% in July, slowing from a 0.39% drop in the preceding period. Meanwhile, annual core inflation grew 4.63%, up from 4.50% a month earlier.

Vietnam’s annual inflation rate eased to 4.69% in June 2026 from 5.60% in the previous month. This marked the lowest reading since February, as price growth moderated in food (4.89% vs 5.03% in May), alcoholic beverages and tobacco (4.21% vs 4.29%), clothing and footwear (2.19% vs 2.37%), housing utilities (7.17% vs 8.19%), transportation (5.29% vs 12.48%), and miscellaneous goods and services (4.08% vs 4.22%). In contrast, costs increased in furnishing and household equipment (3.17% vs 3.12%), health (1.20% vs 1.19%), information and communication (0.13% vs 0.07%), and recreation and culture (3.32% vs 2.91%), while inflation remained steady in education (at 3.39%). On a monthly basis, consumer prices fell 0.39% in May, following a 0.29% gain. Meanwhile, the annual core inflation rose by 4.50%, easing from 4.67% in the preceding period.

Vietnam’s annual inflation rate increased to 5.60% in May 2026 from 5.46% in the previous month. This was the highest reading since January 2020, driven primarily by faster price growth in transport (12.48% vs 11.08% in April), reflecting elevated energy costs linked to ongoing conflict in the Middle East. Additional upward pressure came from housing and construction materials (8.19% vs 7.95%), culture, entertainment and tourism (2.91% vs 2.71%), garments, hats and footwear (2.37% vs 2.29%), beverages and tobacco (4.29% vs 4.21%), and healthcare services (1.19% vs 1.11%). In contrast, inflation eased for food (5.03% vs 5.20%), information and communication (0.07% vs 0.24%), and other goods and services (4.22% vs 4.52%). On a monthly basis, the CPI advanced 0.29%, the smallest rise in four months, slowing from a 0.84% increase in April. Annual core inflation was largely unchanged at 4.67% in May compared with 4.66% in April, remaining at its highest level since March 2023.