Vietnam Inflation May 2017


Vietnam: Inflation at nine-month low in May

May 27, 2017

Consumer prices in Vietnam declined 0.53% from the previous month in May (April: +0.00% month-on-month), the steepest decline since December 2008. According to the General Statistics Office of Vietnam, prices for food and foodstuffs declined and the remaining categories were broadly stable.

Inflation came in at 3.2% in May, a nine-month low and notably lower than April’s 4.3%. However, annual average inflation was 3.9% in May, the highest number recorded in over two years (April: 3.8%).

Core consumer prices, which exclude food items, energy products and commodities, inched up 0.08% on a month-on-month basis in May (April: +0.09% mom). Core inflation came in at 1.3% in May, below the 1.5% seen in April.

FocusEconomics Consensus Forecast panelists expect inflation to average 4.3% in 2017, which is up 0.2 percentage points from last month’s forecast. According to the panel, average inflation will accelerate to 4.5% in 2018.

Author: Marlène Rump, Senior Data Analyst

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Vietnam Inflation Chart

Vietnam Inflation May 2017

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

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