Vietnam is experiencing its highest inflation in more than a decade, but consumer confidence in the country is still relatively high, according to Nielsen.
The Vietnam News Agency Bulletin reported Wednesday that the country ranked ninth in Nielsen’s recent survey of global consumer confidence.
The same study showed that Vietnam’s inflation rate climbed to 26.8% in June — compared with a rate of 8.3% a year ago.
“Although inflationary pressure will directly impact consumer behaviour within some product and service categories, mid-to long-term prospects in Vietnam are still very encouraging,” Aaron Cross, Managing Director of Nielsen Vietnam, told the Agency Bulletin. “Most of our clients in Vietnam continue to enjoy very strong growth and are increasing their investments based on strong consumer demand.”
View Nielsen’s global consumer confidence report.