Vietnam Inflation August 2020

Vietnam

Vietnam: Inflation decreases in August

August 29, 2020

Consumer prices increased 0.07% in August over the previous month, after the 0.40% rise logged in July. August's result marked the weakest reading since May. Looking at the details of the release, prices for food rebounded in August. In contrast, prices for transportation rose at a slower pace.

Inflation ticked down to 3.2% in August, following July’s 3.4%. Meanwhile, the trend was unchanged with annual average inflation coming in at July's 3.7% in August.

Looking ahead, our panelists see inflation remaining under control due to low energy prices compared to last year, which should provide room for the State Bank of Vietnam to continue to adopt an accommodative monetary stance.

FocusEconomics Consensus Forecast panelists expect inflation to average 3.3% in 2020, which is up 0.3 percentage points from last month’s forecast. For 2021, the panel projects inflation to average 3.2%.


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Vietnam Inflation August 20 20

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


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