Vietnam: Inflation softens in November
November 30, 2018
According to the General Statistics Office of Vietnam, consumer prices fell 0.29% over the previous month in November, following the 0.33% increase in October. A breakdown of the data showed that 4 out of the 11 sub-components registered lower prices, with traffic showing the largest fall in prices. Meanwhile, the remaining sub-components saw flat or subdued price increases in the month.
Inflation ticked down to 3.5% in November from 3.9% in October, falling further below the Central Bank’s target of 4.0%. Meanwhile, annual average inflation ticked up to 3.5% in November from 3.4% in October. Core consumer prices, which excludes prices for rent, electricity, water, fuel and construction materials, rose 0.13% over the previous month in November, a notch down from 0.13% month-on-month increase in October. Finally, core inflation was stable at October’s 1.7% in November.
Vietnam Inflation Forecast
FocusEconomics Consensus Forecast panelists expect inflation to average 4.1% in 2019, which is unchanged from last month’s forecast. For 2020, the panel projects inflation to average 4.2%.
Author: Lindsey Ice, Economist