Vietnam: Inflation moderates in January
February 5, 2014
In January, consumer prices rose 0.69% over the previous month, which was above the 0.51% rise recorded in December. According to the General Statistics Office of Vietnam, January's price increase was driven by higher prices for housing and construction materials as well as for apparel, headwear and footwear.
Annual inflation fell from 6.0% in December to 5.5% in January. Inflation has thus fallen below the Central Bank's target range of between 6.0% and 6.5%. Annual average inflation inched down from 6.6% in December to 6.5% in January.
FocusEconomics Consensus Forecast panelists expect headline inflation to average 7.4% in 2014, which is unchanged from last month's forecast. According to the panel, average inflation should accelerate to 7.8% in 2015.
Author: Dirina Mançellari, Senior Economist