In the first six months of 2022, the CPI rose an average of 2.44% from the same period last year. Meanwhile, several economies recorded high rises in inflation in May including the US, the European Union, Thailand, South Korea, and Indonesia.
The General Statistics Office of Vietnam attributed Vietnam's lower CPI rise compared to other countries to the smaller percentage of petrol cost in the country's CPI basket, which only accounts for 3.6% of the total.
Meanwhile, petrol accounts for 8-10% of CPI in the US and the EU. In addition, while Vietnam imports crude oil, it also exports and produces oil.
Being a major food producer also helps Vietnam avoid price fluctuations. However, the country is forecast to face high inflationary pressure for the rest of the year.
