Vietnam’s inflation rate is set to average around 3% in 2021, well below the State Bank of Vietnam’s (SBV) 4% ceiling, according to an HSBC report.

Although the average consumer price index (CPI) in the last 7 months was higher than the same period in 2019, the inflation rate in 2020 is forecasted to be lower than 4% and achieve the target set by the National Assembly.