Vietnam Inflation January 2018


Vietnam: Inflation inches up in January

January 31, 2018

Consumer prices increased 0.51% over the previous month in January, according to the General Statistics Office of Vietnam. This follows a 0.21% month-on-month rise in December. All but one of the 12 sub-components recorded higher prices compared to the previous month. Medicine and healthcare registered the biggest increase, whereas postal services and telecommunications was the only subcategory to see a decline in prices.

Inflation rose for the first time in four months, inching up to 2.7% in January (December: 2.6%),. It remains below the Central Bank’s target of 4.0%. Annual average inflation edged down to 3.3% in January from 3.5% in December.

Meanwhile, core consumer prices—which strips away rent, electricity, water, fuel and construction materials costs—increased 0.18% over the previous month in January, a bigger rise than the 0.11% month-on-month rise in December. Core inflation inched down from 1.3% in December to 1.2% in January.

The Central Bank is targeting an inflation rate below 4.0% for 2018. FocusEconomics Consensus Forecast panelists expect inflation to average 4.0% in 2018, which is down 0.1 percentage points from last month’s forecast. For 2019, the panel projects inflation to average 4.3%.


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Vietnam Inflation Chart

Vietnam Inflation January 2018 1

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

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