Vietnam Inflation July 2020

Vietnam

Vietnam: Inflation hits highest level since March in July

July 29, 2020

Consumer prices rose 0.40% over the previous month in July, coming in below June's 0.66% increase. July’s increase was due to higher transport prices.

Inflation came in at 3.4% in July, above June’s 3.2%. July's reading marked the highest inflation rate since March. Annual average inflation edged up to 3.7% in July (June: 3.6%).

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 3.0% in 2020, which is down 0.4 percentage points from last month’s forecast. For 2021, the panel projects inflation to average 3.1%.


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Vietnam Inflation July 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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