The Consumer Price Index (CPI) for food and food services increased by 4.15 percent in December compared to November, indicating steady monthly growth, according to Vietnam’s General Statistics Office. This reflects stable trends in food pricing during the end of the year.
Year-on-year, the CPI for food and food services increased by 3.87 percent in December 2024 compared to December 2023. For the full year of 2024, the CPI rose by 4.03 percent compared to 2023, showcasing a controlled inflation environment.
The CPI for rice, a key staple, grew by 6.31 percent in December 2024 compared to the previous month and recorded a robust 12.19 percent increase for the year. Meanwhile, the CPI for eating outside the family rose slightly by 3.88 percent month-on-month, driven by seasonal demand.
Vietnam’s food and food services sector remains essential to household consumption and inflation monitoring. Continued efforts to stabilise prices and ensure food security will support economic growth and consumer confidence.
Of note, the food and beverage industry in Vietnam is a rapidly growing sector, driven by rising incomes, urbanisation, and a young population with evolving consumer preferences. Known for its rich culinary heritage, Vietnam has a strong domestic market for traditional food products and beverages while also expanding its footprint in international markets. Key segments include processed foods, dairy products, beverages, and packaged snacks, supported by a mix of local producers and multinational companies. Government policies promoting food safety standards and export-oriented production have further boosted the industry’s growth and competitiveness.
See also: Food and Beverage Industry in Vietnam