Vietnam: Inflation picks up in June
June 24, 2013
In June, consumer prices rose 0.05% over the previous month, which contrasted the 0.06% fall recorded in May. According to the General Statistics Office of Vietnam, higher prices for garment and footwear as well as for culture, entertainment and tourism offset lower prices for postal services and communications as well as for traffic.
As a result of the monthly increase, annual inflation rose from 6.4% in May to 6.7% in June. Despite the increase, annual average was unchanged at May's 6.5%.
FocusEconomics Consensus Forecast panellists expect headline inflation to average 7.5% in 2013, which is down 0.3 percentage points from last month's forecast. According to the panel, average inflation will accelerate to 7.8% in 2014.
Author: Armando Ciccarelli, Head of Data Solutions