Vietnam Inflation July 2019

Vietnam

Vietnam: Inflation ticks up in July but remains moderate

July 29, 2019

According to the General Statistics Office of Vietnam, consumer prices rose 0.18% in July over the prior month, contrasting June’s 0.09% decrease. July’s reading was driven by higher prices for food and catering services, and education.

Inflation ticked up from 2.2% in June to 2.4% in July, remaining in line with the Central Bank’s target of below 4.0% inflation. Core inflation was stable at 2.0%. Moderate inflation so far this year can largely be attributed to muted oil and food prices.

Looking ahead, inflation is seen rising somewhat from its current level on strong domestic demand, and as the base effect from low oil prices lessens from Q4 onwards, but should stay on target nonetheless.

FocusEconomics Consensus Forecast panelists expect inflation to average 3.1% in 2019 and 3.7% in 2020.


Author:, Economist

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Vietnam Inflation Chart


Vietnam Inflation July 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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