Vietnam Inflation June 2018


Vietnam: Inflation soars to 15-month high in June

June 29, 2018

According to the General Statistics Office of Vietnam, consumer prices rose 0.61% over the previous month in June, which marked a slightly bigger increase than the 0.55% month-on-month rise in May. A breakdown of the data shows that 10 out of the 11 sub-components saw higher prices, while the remaining category recorded lower prices. Prices for food and foodstuff rose the most, while prices for postal services and telecommunications declined.

Inflation shot up to a 15-month high of 4.7% in June, from 3.9% in May. This is the first time in 14 months that inflation has surpassed the Central Bank’s target of 4.0%. Meanwhile, annual average inflation edged up to 3.1% in June from 2.9% in May. Core consumer prices, which excludes prices for rent, electricity, water, fuel and construction materials, increased 0.10% over the previous month, following a 0.11% rise over the previous month in May. Core inflation remained stable at 1.4% in June.

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 down 0.1 percentage points from last month’s forecast. For 2019, the panel projects inflation to average 4.0%.


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Vietnam Inflation Chart

Vietnam Inflation June 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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