Vietnam’s inflation stayed high during the first nine months of 2026 even as the economy kept growing. The government therefore sees price stability as essential for protecting social welfare and sustaining macro‑economic balance.

The National Statistics Office reported that Vietnam’s CPI rose 4.52% in the first nine months of 2026, close to the National Assembly’s 4.5% target, while core inflation was 4.26%. The same report said food, housing, electricity, water, fuel, construction materials and transport were the main drivers of price increases. This shows that price pressure is spreading across many sectors of the economy.

Fuel prices within transport surged 10.89%, adding 0.52 percentage point to the CPI. Nguyen Thu Oanh, head of the NSO’s Price and Services Statistics Department, said September 2026 CPI rose 0.62% month‑over‑month and 5.08% year‑over‑year, the highest since 2016.

Prime Minister Le Minh Hung instructed agencies not to raise electricity prices and to regulate fuel prices to keep inflation at the target. The report warned that risks of higher global energy and raw material prices and strong year‑end consumer spending could raise inflation further. Maintaining price stability is therefore a key part of the government’s growth strategy.

Keeping inflation under control is crucial for Vietnam to preserve its growth momentum and protect citizens from rising living costs. Stable prices help ensure that the benefits of economic expansion reach ordinary households.