Lower fuel, food prices push July CPI down 0.12%

Vietnam's Consumer Price Index (CPI) in July saw a month-on-month decrease of 0.12%, attributed to lower fuel and food prices. This marks a stabilization in the market, with the Statistics Office noting efforts to implement government directives on price governance and inflation control, alongside ensuring adequate supply of goods and services. In June, the CPI had risen by 3.21% from December 2025 and 4.69% year-on-year. For the first four months of 2026, the index climbed 3.99% against the same period last year, with core inflation growing 3.89%. Economically, Vietnam is showing strong performance, prompting international institutions like Standard Chartered, UOB, and DBS to raise their growth forecasts. Standard Chartered projects GDP growth of 9.5% in 2026 and 11% in 2027. Vietnam's total trade may exceed $1 trillion USD in 2026, supported by effective use of new-generation free trade agreements (FTAs). Agriculture, forestry, and fishery exports fetched an estimated $35.88 billion USD in the first six months of 2026, up 6% year-on-year. The sector's GDP expanded by over 3.8%, exceeding the government's 3.7% target, underpinned by stable production. The country is also focused on fostering business development, aiming for 2 million active enterprises by 2030 by creating supportive institutions and funding channels. This is seen not just as a numerical milestone but as the emergence of a more resilient engine of growth. In diplomatic relations, the Czech Republic expressed high regard for cooperation potential with Da Nang and readiness to connect Czech enterprises with Vietnamese partners. Financial cooperation with the Netherlands has also been strengthened, opening opportunities for experience sharing and market connections in finance, technology, and innovation. Infrastructure development is progressing, with the passenger terminal construction at Cam Ranh International Airport reaching nearly 70% of the total contract value. In renewable energy, nearly 20% of hotels in Cua Lo ward have installed rooftop solar systems, reducing electricity costs and easing pressure on the power supply. Market growth is increasingly measured by service quality, risk management, innovation, and trust, beyond revenue size. LSP, a major FDI project managed by SCG Chemicals, is investing an additional $500 million USD to integrate ethane into its feedstock portfolio. Source: VietnamPlus English