Vietnam's consumer price index (CPI) declined 0.12% in July from the previous month, ending a string of monthly increases, according to the National Statistics Office.
Despite the monthly decline, consumer prices remained 3.08% higher than at the end of 2025 and rose 4.45% compared with July last year.
Among the 11 major categories of goods and services, eight recorded price increases while three posted declines. The overall decrease in July was mainly driven by lower prices in transportation, food and catering services, and housing-related items.
Meanwhile, price increases were concentrated in public services and products associated with the peak summer tourism season.
For the first seven months of 2026, average CPI rose 4.39% year-on-year. Housing, electricity, water, fuel and construction materials recorded the largest increase, rising 6.72% and contributing 1.53 percentage points to overall inflation. Food and catering services climbed 4.77%, making the largest contribution of 1.71 percentage points, while transportation prices increased 5.01%, adding 0.50 percentage points.
Core inflation, which excludes volatile items, increased 0.33% from June and 4.63% year-on-year in July. For the January–July period, average core inflation rose 4.19% compared with the same period of 2025.
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