Vietnam inflation up at 3.6%

Vietnam inflation up at 3.6%

HANOI (AFP): Vietnam recorded a year-on-year inflation of 3.6 percent in the month to Aug. 25 against a 3.1 percent annual rise in July, according to official figures released yesterday.

Monthly inflation in August was only 0.1 percent over July according to the General Department of Statistics.

Food prices were up 1.1 percent over the same period last year, however the price of rice, a key part of the Vietnamese diet, rose just 0.2 percent during the past 12 months.

Prices for construction materials held steady in August with the year-on-year prices rising 0.8 percent.

Fuels have been the only major commodity to see double digit inflation over the past 12 months, up 18.6 percent, however costs in August fell 0.6 percent due to a slight cut in fuel prices recently. Services rose 9,2 percent over the year.

Ho Chi Minh City, Vietnam's main economic hub, has seen prices rise 3.9 percent from a year earlier, just slightly higher than the national average.

Prices in Hanoi fell slightly over the previous month, dropping 0.2 percent from July, and rising just 1.5 percent over a year ago.