Inflation eases to 3.31% in July

The consumer price index (CPI) for the January-July period this year was 9.25% year-on-year, driven mainly by increased food prices, the office said.

In the same period last year, the CPI stood at more than 21% and the full-year rate was 22% and the price of fuel and building materials soared.

The General Statistics Office said food prices increased 12.94% in the first seven months of this year.

On a monthly basis, the consumer price index (CPI) rose 0.52% in July from June.

The office has warned that high inflation could return in the second half of this year.

The National Assembly has revised down the full year inflation target to 7%, while the State Bank of Vietnam has estimated the inflation rate will be between 6 and 9% and the World Bank has forecast 8%.