Vietnam Inflation August 2018

Vietnam

Vietnam: Inflation drops to Central Bank target in August

August 31, 2018

According to the General Statistics Office of Vietnam, consumer prices rose 0.45% over the previous month in August, contrasting a 0.09% month-on-month decline in July. Looking at a breakdown of the data, 10 out of the 11 sub-components recorded higher prices, led by food and foodstuff. The remaining sub-component, postal services and telecommunications, registered a drop in prices.

Inflation dropped to the Central Bank’s target of 4.0% in August, down from July’s 4.5%. Meanwhile, annual average inflation in August remained at July’s 3.3%. Core consumer prices, which excludes prices for rent, electricity, water, fuel and construction materials, rose 0.22% over the previous month in August, following a 0.15% month-on-month rise in July. Core inflation inched up to 1.5% in August, from 1.4% in July.

The Central Bank projects inflation remaining below 4.0% in 2018. FocusEconomics Consensus Forecast panelists expect inflation to average 3.9% in 2018, which is unchanged from last month’s forecast. For 2019, the panel projects inflation to average 4.2%.


Author:, Economist

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Vietnam Inflation Chart


Vietnam Inflation August 2018

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


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