Ian Timberlake: Vietnam inflation nears 20%: official data

[AFP] Vietnamese inflation will reach almost 20 percent year-on-year in May, official estimates said Tuesday, adding to the pressure on consumers facing some of the steepest price rises in the world. The consumer price index is expected to rise 19.78 percent this month compared with May last year, the General Statistics Office said. Inflation has increased every month since August of last year, but is still below a recent peak of 28.3 percent recorded in August 2008 as well as the triple-digit figures seen in the 1980s. The communist country has one of the top five inflation rates in the world, and poverty will increase as a result, the United Nations in Vietnam said earlier this month...More

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