Vietnam Inflation October 2019

Vietnam

Vietnam: Inflation ticks higher in October

October 30, 2019

According to the General Statistics Office of Vietnam, consumer prices rose 0.59% in October over the prior month, up from September’s 0.32% increase. October’s reading was mainly driven by higher food prices, likely linked to lower pig herds due to African swine fever.

Inflation ticked up to 2.2% in October from 2.0% in September, remaining in line with the Central Bank’s target of sub-4.0% for 2019. Core inflation was stable at 2.0%. Moderate inflation so far this year can be attributed in part to muted oil prices.

Looking ahead, inflation is set to track somewhat higher than its current level on strong domestic demand, but nonetheless should stay mild.

FocusEconomics Consensus Forecast panelists expect inflation to average 3.5% in 2020, which is down 0.1 percentage points from the prior month’s estimate, and 4.0% in 2021.


Author:, Economist

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Vietnam Inflation Chart


Vietnam Inflation October 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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