Vietnam Inflation June 2020

Vietnam

Vietnam: Inflation increases in June

June 29, 2020

Consumer prices rose 0.66% over the prior month in June, swinging from May's 0.03% fall. June's figure was the sharpest increase in prices since January. Looking at the details of the release, price pressures for transportation picked up pace amid the recent uptick in fuel prices, while prices for health grew at a more subdued pace.

Inflation rose to 3.2% in June, up from May’s 2.4% print. Annual average inflation edged up to 3.6% in June (May: 3.5%).

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 3.4% in 2020, which is unchanged from last month’s forecast. For 2021, the panel projects inflation to average 3.2%.


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Vietnam Inflation June 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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