After decelerating in the first two months of the year, consumer prices fell by 0.44 percent in March.
Four out of the 11 goods in the basket measured by the consumer price index saw price declines, according to the Hanoi-based General Statistics Office.
Food and food services saw the largest fall of 0.96 percent.
Housing and building materials prices followed at 0.74 percent.
The net inflation rate in the first three months has been 0.82 percent, the lowest rate in several years.
In February it had fallen to a decade low of 0.55 percent after a four-year low of 0.69 percent earlier in January.
News website Saigon Times quoted economist Vu Dinh Anh as saying the inflation rate in March often signals the trend for the whole year.
If it is below 0.5 percent, the year's rate is likely to be in single digits, he said.
Last year inflation also dropped in March from a month earlier, but by only 0.2 percent. Prices through out 2013 rose to a decade low of 6.04 percent.
Like us on Facebook and scroll down to share your comment