According to a report released on June 14, HSBC explained that the inflation risk in ASEAN countries has increased since the beginning of this year, leading to a high rise in both core and headline inflation rates compared to the period before COVID-19 broke out. However, the impacts are different on each country, and inflation pressure in Singapore, Thailand and the Philippines has become heavier, while in Vietnam, Malaysia and Indonesia, inflation has been under good control, according to the report. But headline inflation is likely to increase sharply in the second group soon, especially in the context of rising energy prices, it predicted, adding that although the world oil price has "cooled down" compared to the peak in March, it is still at a high level, while the price of natural gas continues to increase gradually. It said in Vietnam, energy price inflation has also persisted for long. Transport prices hit a record high, surpassing food inflation to become the main driver of Vietnam's headline inflation./.