Inflation rate rises in August but stays within target

The inflation rate in Vietnam for August quickened from that of July to 3.35%, according to a statement issued by the General Statistics Office.

The inflation rate in Vietnam for August quickened from that of July to 3.35%, according to a statement issued by the General Statistics Office.

The increase, said the GSO, was largely due to rising costs for healthcare, medicine and pharmaceuticals after the government raised the prices for medical services in several provinces.

In addition, transport costs in August jumped from July as global oil products prices rose while food costs climbed as pork and vegetables became more expensive, the GSO statement said.

The country's annualized average inflation rate for 2016 stood at 2.66%, well within line of the Vietnam government’s target of keeping the consumer price index below the 5% threshold.