Vietnam Inflation


Vietnam: Inflation quickens in July as oil prices shoot up

July 24, 2013

In July, consumer prices rose 0.27% over the previous month, which came in well above the 0.05% increase recorded in June. According to the General Statistics Office of Vietnam, the jump was due to higher transportation costs, driven by a sharp increase in oil prices.

As a result of the monthly increase, annual inflation rose to 7.3% in July (June: 6.7%), its highest level in 14 months. Annual average inflation rose from 6.5% in June to 6.7% in July.

FocusEconomics Consensus Forecast panellists expect headline inflation to average 6.6% in 2013, which is down 0.2 percentage points from last month's forecast. According to the panel, average inflation will accelerate to 7.5% in 2014.


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Vietnam Inflation Chart

Vietnam Inflation July 2013

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

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