Vietnam Inflation May 2018


Vietnam: Inflation rises sharply in May

May 29, 2018

According to the General Statistics Office of Vietnam, consumer prices increased 0.55% over the previous month in May following a much smaller 0.08% month-on-month rise in April. Looking at a breakdown of the data, 9 out of the 11 sub-components recorded higher prices, one came in flat and the remaining category registered lower prices. Prices for traffic increased the most, remained flat for education and fell for postal services and telecommunications.

Inflation climbed sharply to 3.9% in May from 2.8% in April, rising close to the Central Bank’s target of 4.0%. Annual average inflation remained at 2.9% in April. Core consumer prices, which excludes prices for rent, electricity, water, fuel and construction materials costs, rose 0.11% over the previous month in May, after a 0.05% month-on-month increase in April. Core inflation inched up to 1.4% in April from 1.3% in March.

The Central Bank projects inflation remaining below 4.0% in 2018. FocusEconomics Consensus Forecast panelists expect inflation to average 3.9% in 2018, which is unchanged from last month’s forecast. For 2019, the panel projects inflation to average 4.2%.


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Vietnam Inflation Chart

Vietnam Inflation May 2018

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

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