Vietnam Inflation Rate Climbs to 11-Month High

Vietnam’s annual inflation rate slowed to 2.53% in January 2026, the lowest since July 2023, down from 3.48% in December. Inflation eased across most sub-components, particularly food and foodstuff services (3.64% vs 4.20% in December), driven by a decline in food costs (-1.22%). Price growth also moderated for beverages and cigarettes (1.95% vs 2.05%), garments, hats, and footwear (1.21% vs 1.33%), household equipment and goods (1.71% vs 1.77%), and medicine and healthcare services (0.92% vs 10.27%). Deflation deepened for transport (-3.76% vs -0.55%) and information and communication (-0.28% vs -0.25%). In contrast, inflation picked up for housing, electricity, water, fuel, and construction materials (5.60% vs 5.23%) and education (3.14% vs 3.05%). On a monthly basis, consumer prices inched up 0.05%, following a 0.19% gain in December. The core inflation rate eased to 3.19% from 3.27% in December.

Vietnam's annual inflation rate eased to 3.48% in December 2025, from an eleven-month high of 3.58% in the previous month. Prices increased at a softer pace for the majority of sub-indices, particularly housing, electricity, water, fuel, and building materials (5.23% vs 5.73% in November), household appliances (1.77% vs 1.78%), drinks and tobacco (2.05% vs 2.2%), garments, hats, and shoes (1.33% vs 1.41%), medicines and medical services (10.27% vs 12.65%), education (3.05% vs 3.2%), culture, entertainment, and tourism (1.31% vs 1.63%), and other goods and services (3.03% vs 3.07%). In addition, prices declined for transport (-0.55% vs 1.11%). On the other hand, prices jumped for food and beverage services (4.2% vs 3.29%), particularly foodstuffs (5.18% vs 3.85%) and eating out (4.21% vs 4.05%), while deflation softened for information and communication (-0.25% vs -0.3%). On a monthly basis, consumer prices slowed to 0.19% from 0.45% in November, marking the lowest reading since August.

Vietnam’s annual inflation rate rose to 3.58% in November 2025, the highest since January, up from 3.25% in October. The main upward pressure came from faster food inflation (3.29% vs 2.09% in October), driven by higher prices of foodstuffs (3.85% vs 1.96%) and meals and drinks eaten out (4.05% vs 3.96%). Inflation also went up for household goods and equipment (1.78% vs 1.69%) and for medicines and healthcare services (12.65% vs 12.63%), while transport costs rebounded (1.11% vs -0.02%). In contrast, price growth eased for garments, hats, and footwear (1.41% vs 1.50%), beverages and cigarettes (2.20% vs 2.36%), and housing and construction materials (5.73% vs 6.76%). Meanwhile, core inflation, which excludes volatile items, slightly eased to 3.28% from 3.30% in October. On a monthly basis, consumer prices rose by 0.45%, the largest increase in five periods, accelerating from a 0.20% gain in October.