The NSO reported that December's CPI climbed 0.19% from November and 3.48% from a year earlier. Fourth-quarter average CPI went up 3.44% year-on-year.

Prices advanced in 11 months and fell in one versus the prior month, driven by seasonal demand spikes during holidays and Lunar New Year, global swings in rice, cooking gas and fuel prices, plus domestic shifts in pork, electricity, construction materials and housing rents.

Huong attributed these results to the concerted and flexible macroeconomic management, prudent monetary policy, a stable foreign exchange market, interest rate cuts, and accelerated public investment. She highlighted careful pricing of State-managed goods, transport cost optimisation, energy and food security measures, and tight control of inflation expectations as key to supporting sustainable growth.

Nguyen Thu Oanh, head of the NSO's Service and Price Statistics Department, said food and catering services prices gained 3.27%, adding 1.17 percentage points to the overall CPI. Food alone rose 3.61%, contributing 0.8 point, while restaurant services climbed 3.81% and the narrower food group edged up 0.17%.

Housing, electricity, water, fuel and construction materials jumped 6.08%, contributing 1.38 points, led by higher rents and repair costs. Residential electricity prices rose 7.2%, reflecting demand growth and adjustments by state utility EVN on October 11, 2024, and May 10, 2025.

Medicine and health services surged 13.07%, adding 0.61 point, after the Health Ministry's October 17, 2024 circular triggered fee hikes.

Education costs moved up 2.15%, contributing 0.13 point, as some universities and private schools raised tuition. Household goods rose 1.66%, adding 0.09 point, while other services gained 4.78%, contributing 0.17 point.

Offsetting factors included a 2.14% drop in transport prices, trimming 0.21 point from CPI, mainly from an 8.53% decline in gasoline. Telecommunications fell 0.45%, shaving off 0.02 point, driven by cheaper older-generation handsets.

Domestic gold prices in December rose 2.18% month-on-month and 70.37% year-on-year, with a full-year average gain of 47.67%. The US dollar index edged up 0.17% in December and 3.68% annually, averaging a 3.92% rise for 2025.

Core inflation rose 0.23% monthly in December and 3.27% year-on-year. Full-year core inflation averaged 3.21%, below the headline 3.31%, as it strips out major drivers like food, electricity, healthcare and education.