Inflationary Pressures Remain Stubborn But Disinflation View Still In Play

Vietnam's headline consumer price inflation (CPI) accelerated from 22.2% y-o-y in July to 23.0% y-o-y in August, reaffirming our concerns that inflationary pressures may prove to be more stubborn that we have previously anticipated. However, stabilising commodity prices coupled with weak money supply and credit growth, suggest that inflationary pressures should continue to cool over the coming months.

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