Vietnamese inflation accelerated to a 25-month high in March on rising gasoline and power costs, adding pressure for another increase in interest rates.
Prices rose 13.89 percent this month from a year earlier, compared with a 12.31 percent pace in February, according to figures released by the General Statistics Office in Hanoi on Thursday. That’s the fastest since February 2009. Prices rose 2.17 percent from February.
Prime Minister Nguyen Tan Dung is aiming to curb credit growth, restrain the budget deficit and tighten monetary policy after shifting the focus to taming inflation from boosting economic expansion. Price gains will likely exceed 14 percent by midyear, driven by a weaker currency and higher fuel and electricity tariffs, Credit Suisse Group AG said this month.