Vietnam inflation slows for second straight month in October: officials


AFP

HANOI–Vietnam’s inflation eased slightly for a second consecutive month in October, official estimates showed Monday, as the country battles Asia’s fastest-rising prices. The consumer price index (CPI) rose 21.59 percent year-on-year in the month, according to the General Statistics Office, from 22.4 percent in September when the rate slowed for the first time in more than a year after a 23-percent peak in August. Food prices continued to stoke inflation, increasing 31.72 percent in October from a year earlier.

Vietnam, which has this year refocused attention away from economic growth and toward stabilization, was last month forced to raise its 2011 inflation target to 18 percent, from 15 percent, as prices soar.