Vietnam's central bank says September inflation hit 5.08%, highest in years, but remains under control

On October 7, Vietnam's central bank deputy governor Pham Thanh Ha said that September's annual inflation rate of 5.08%, the highest in several years, puts pressure on monetary policy but prices remain under control. The rise is partly due to higher imported fuel costs from the Iran war and global interest rate hikes. The central bank targets 4.5% inflation for the year and plans flexible monetary policy to balance inflation control with economic growth, which requires over 12% fourth-quarter GDP growth to meet the 10% annual target.