Vietnamese Inflation Backs Off

07/24/08 10:25AM EDT
Recall that Vietnam signaled the global inflation cycle very early, back in November of 2007. Today’s inflation report for July could very well signal the top of inflation becoming consensus. Inflation in Vietnam slowed for the 1st time since October 2007, coming in at +1.1% month over month, versus last month’s +2.1% increase.

While +27% year over year inflation is hardly deflationary. The point here is the sequential monthly rate of change. I think this will be broad based across country level inflation reports as the July data is released in August.

Inflation is consensus. Now the focus shifts to trying to find when/if it slows.
KM
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