Vietnam Inflation July 2018


Vietnam: Inflation edges down from 15-month high in July

July 31, 2018

According to the General Statistics Office of Vietnam, consumer prices declined 0.09% over the previous month in July, contrasting a 0.61% month-on-month increase in June. A breakdown of the data shows that eight out the 11 sub-components registered higher prices, while the remaining three sub-components recorded lower prices. Prices for food and foodstuff rose the most, while prices for medicine and healthcare fell the most.

Inflation edged down to 4.5% in July from June’s 15-month high of 4.7%, remaining above the Central Bank’s target of 4.0%. Meanwhile, annual average inflation edged up to 3.3% in July from 3.1% in June. Core consumer prices, which excludes prices for rent, electricity, water, fuel and construction materials, increased 0.15% over the previous month, following a 0.10% rise over the previous month in June. Core inflation remained stable at 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%.


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Vietnam Inflation Chart

Vietnam Inflation July 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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