Vietnam Inflation October 2016

Vietnam

Vietnam: Inflation surges in October

In October, consumer prices increased 0.83% over from the previous month, which was above September’s 0.54% increase. According to the General Statistics Office of Vietnam, October’s reading reflected higher prices in all but two of the 11 components of the index, with prices for healthcare and medicine rising the most.

Inflation came in at 4.1% in October, which was a sharp acceleration from September’s 3.3%. Meanwhile, annual average inflation was 2.0% in October (September: 1.6%).

Core consumer prices, which exclude food items, energy products and commodities, increased 0.07% in October, which matched September’s result. Core inflation was 1.9% in October, which also mirrored September’s number.

FocusEconomics Consensus Forecast panelists expect inflation to average 2.5% in 2016, which is up 0.1 percentage points from last month’s forecast. According to the panel, average inflation will accelerate to 3.8% in 2017, which is down 0.1 percentage points from last month’s projection.


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Vietnam Inflation Chart


Vietnam Inflation October 2016

Note: Annual and monthly variation of consumer prices index in %.
Source: General Statistics Office of Vietnam (GSO) and FocusEconomics calculations.


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