Vietnam Inflation November 2019


Vietnam: Inflation surges in November but remains on target

November 29, 2019

According to the General Statistics Office of Vietnam, consumer prices rose 0.96% in November over the prior month, up from October’s 0.59% rise. November’s reading came on the back of higher pork prices due to the impact of African swine fever on herd numbers.

Inflation surged from 2.2% in October to 3.5% in November amid a sharp rise in food price inflation. This marked the highest reading since December 2018 but was still in line with the government’s target of below 4.0% inflation. Core inflation increased from 2.0% to 2.2%.

Inflation is seen averaging close to its current level next year, supported by strong economic activity and a higher minimum wage.

FocusEconomics Consensus Forecast panelists expect inflation to average 3.4% in 2020, which is down 0.1 percentage points from last month’s forecast. For 2021, the panel projects inflation to average 3.9%.

Author:, Economist

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Vietnam Inflation Chart

Vietnam Inflation November 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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