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Vietnam Inflation March 2021

Vietnam: Inflation rises in March

Consumer prices fell 0.27% over the previous month in March, swinging from the 1.52% rise logged in February. March’s result marked the first fall in prices since April 2020 and was primarily due to dropping prices for food.

Inflation came in at 1.2% in March, which was up from February’s 0.7%. Meanwhile, the trend pointed down, with annual average inflation coming in at 1.9% in March (February: 2.2%).

Looking ahead, our panelists see inflation averaging slightly lower this year than in 2020 and well below the State Bank of Vietnam’s 4.0% target. As such, the Bank should continue to have room to adopt an accommodative monetary stance and cut rates further if required to support the economy.

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