Vietnam Inflation August 2016


Vietnam: Inflation in August edges up to 21-month high

August 26, 2016

In August, consumer prices increased 0.10% over the previous month, which was below July’s 0.13% increase. According to the General Statistics Office of Vietnam, August’s reading reflected higher prices in 6 of the 11 components of the index, with the medicine and health care component logging the biggest increase.

Inflation edged up from the 2.4% print observed in July to a 21-month high of 2.6% in August. Meanwhile, annual average inflation increased from 1.2% in July to 1.4% in August, which was the largest figure observed since August last year.

Core consumer prices, which exclude food items, energy products and commodities, increased 0.09% in August, coming in slightly below July’s 0.10% rise. Core inflation was 1.8% in August, which was a notch lower than July’s 1.9% reading.

FocusEconomics Consensus Forecast panelists expect inflation to average 2.3% in 2016, which is unchanged from last month’s forecast. According to the panel, average inflation will accelerate to 3.9% in 2017.

Author: Marlène Rump, Senior Data Analyst

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Vietnam Inflation Chart

Vietnam Inflation August 2016 0

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

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