Vietnam Inflation April 2021

Vietnam

Vietnam: Inflation hits seven-month high in April

April 29, 2021

Consumer prices fell 0.04% in April over the previous month, a more moderate drop than the 0.27% drop logged in March. The decline was driven by a softer fall in prices for food and education.

Inflation came in at 2.7% in April, which was up from March’s 1.2%. April's reading was the highest inflation rate since September 2020. Annual average inflation was unchanged at March's 1.9% in April.

Looking ahead, our panelists see inflation averaging slightly lower this year than in 2020 and well below the State Bank of Vietnam’s 4.0% target. As such, the Bank should continue to have room to adopt an accommodative monetary stance and cut rates further if required to support the economy.

FocusEconomics Consensus Forecast panelists expect inflation to average 2.9% in 2021, which is unchanged from last month’s forecast. For 2022, the panel projects inflation to average 3.6%.


Author:, Economist

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Vietnam Inflation April 2021

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


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