Inflation in Vietnam

Vietnam Inflation | Economic News & Forecasts

Vietnam - Inflation

Inflation comes in at highest level since March 2020 in December

Inflation edged up to 4.5% in December, following November’s 4.4%. December's result was the highest inflation rate since March 2020. The figure was primarily driven by higher price pressures for housing, energy and education. That said, transport prices fell for the first time since February 2021.

Annual average inflation rose to 3.2% in December (November: 2.9%).

Lastly, consumer prices fell 0.01% in December over the previous month, swinging from the 0.39% rise recorded in November. December's result marked the weakest reading since December 2021.

Giving their view on the outlook, analysts at the EIU commented:

“Consumer price inflation will ease from just under 5% at the start of 2023 to near 3.6% by the end of that year, although much of the deceleration will occur in the second half of the year. Declining global energy prices will be the main driver.”

FocusEconomics Consensus Forecast panelists expect inflation to average 3.9% in 2023, which is up 0.2 percentage points from last month’s forecast, and 3.4% in 2024.

Vietnam - Inflation Data

2015   2016   2017   2018   2019  
Inflation Rate (CPI, annual variation in %)0.6  2.7  3.5  3.6  2.8  

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Vietnam Inflation Chart


Vietnam Inflation
Note: Annual average variation of consumer price index (CPI) in %.
Source: General Statistics Office of Vietnam and FocusEconomics calculations.

Vietnam Facts

Value Change Date
Bond Yield3.38-0.13 %Dec 31
Exchange Rate23,1730.01 %Jan 01

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