Inflation began to soar at the end of the second quarter. Last month the country’s headline inflation was 4.4 per cent while core inflation was close to 5 per cent due to a rapid recovery in demand, Vietnamese media reports said quoting the HSBC report.
Retail sales remained a key factor for growth in November 2022, as total retail sales of consumer goods grew by 17.5 per cent over November 2021.
While many factories laid off, furloughed, or gave workers an early Tet (Lunar New Year holidays), service businesses such as retail expanded their operations.
Rising inflation is a concerning matter and could increase in the next few quarters, forcing the central bank to take monetary measures, according to HSBC.
ALCHEMPro News Desk (DP)
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