Vietnam inflation rate hits 13.9%

Vietnam's annual inflation rate has risen to its highest level for two years, official figures show.

The country's consumer price index recorded a 13.9% year-on-year increase in March, according to the government's General Statistics Office.

Consumer prices rose 2.2% from February, the biggest monthly increase since May 2008, driven mainly by higher food and fuel prices.

Vietnam has one of the highest inflation rates in Asia.

In February, it devalued its currency by 8.5%, putting further upward pressure on prices.

However, it has since raised key interest rates in an effort to contain inflation.