Vietnam Inflation August 2017

Vietnam

Vietnam: Inflation gains traction in August

August 29, 2017

Consumer prices rose 0.92% from the previous month in August (July: +0.11% month-on-month). According to the General Statistics Office of Vietnam, higher prices for food and foodstuff, medicine and healthcare, and traffic all contributed to this reading, the highest month-on-month rise in consumer prices since September 2013.

Inflation therefore gained traction in August, coming in at 3.4%, up from the 2.5% recorded in July. Average annual inflation also ticked up from 3.9% in July to reach 4.0% in August, which, if maintained until the end of 2017, would match the Central Bank’s annual average inflation target of 4.0% for 2017.

Core consumer prices, which exclude food items, energy products and commodities, increased 0.10% month-on-month in August, almost matching the 0.11% reading of the previous month. Meanwhile, core inflation stood unchanged at 1.3%.

FocusEconomics Consensus Forecast panelists expect inflation to average 3.7% in 2017, which is down 0.1 percentage points from last month’s forecast. According to the panel, average inflation will accelerate to 4.1% in 2018.


Author:, Economist

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Vietnam Inflation Chart


Vietnam Inflation August 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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