Vietnam Inflation December 2019


Vietnam: Inflation soars in December amid higher pork prices

December 29, 2019

According to the General Statistics Office of Vietnam, consumer prices rose 1.40% in December over the prior month, up from November’s 0.96% rise. December’s reading came on the back of markedly higher food prices, as African swine fever continued to curb the supply of pork.

Inflation increased from 3.5% in November to 5.2% in December, the highest rate in almost three years, amid a sharp rise in food price inflation. Core inflation increased from 2.2% to 2.8%.

Although African swine fever will likely continue to fan price pressures in the coming months, inflation in 2020 should average lower than its current level as the impact gradually fades and oil prices stay low.

FocusEconomics Consensus Forecast panelists expect inflation to average 3.3% in 2020, which is down 0.1 percentage points from last month’s forecast. For 2021, the panel projects inflation to average 3.7%.

Author:, Economist

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Vietnam Inflation Chart

Vietnam Inflation December 2019

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

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