Vietnam Inflation July 2016


Vietnam: Inflation steady in July

July 24, 2016

In July, consumer prices increased 0.13% over the previous month, which came in below June’s 0.46% increase. According to the General Statistics Office of Vietnam, June’s reading reflected higher prices in 7 of the 11 components of the index, with the traffic component tallying the biggest increase.

Inflation in July remained steady at the 2.4% print observed in June. Meanwhile, annual average inflation inched up from 1.1% in June to 1.2% in July. July’s reading is the highest print in 10 months.

Core consumer prices, which exclude food items, energy products and commodities, increased 0.10% in July, coming in below June’s 0.13% rise. Core inflation stayed put in July at June’s 1.9% reading.

FocusEconomics Consensus Forecast panelists expect inflation to average 2.3% in 2016, which is unchanged from last month’s forecast. According to the panel, average inflation will accelerate to 3.9% in 2017.

Author: Jean-Philippe Pourcelot, Economist

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Vietnam Inflation Chart

Vietnam Inflation July 2016

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

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