Vietnam Inflation January 2019


Vietnam: Inflation decelerates in January

January 29, 2019

According to the General Statistics Office of Vietnam, consumer prices fell 0.10% over the previous month in January, following the 0.25% drop logged in December. The decline was primarily due to falling traffic prices, in tandem with the tumble in global crude oil prices, while prices for postal services and telecommunication fell marginally. On the other hand, food and foodstuff, and education saw the largest price increases in January.

Inflation plunged to 2.6% in January from 3.5% in December, remaining in line with the Central Bank’s target of below 4.0% inflation. Meanwhile, annual average inflation was stable at December’s over one-year high of 3.6%.

Core consumer prices, which excludes prices for rent, electricity, water, fuel and construction materials, rose 0.30% over the prior month in January, up from the 0.09% month-on-month rise in December. Finally, core inflation ticked up to 1.8% in January from 1.7% in December.

FocusEconomics Consensus Forecast panelists expect inflation to average 3.9% in 2019, which is down 0.2 percentage points from last month’s forecast. For 2020, the panel projects inflation to again average 3.9%.


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Vietnam Inflation Chart

Vietnam Inflation January 2019

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

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