Latest reading: Inflation ticked up to 2.4% in July, following June’s 2.3%. Looking at the details of the release, prices...
Inflation in Vietnam
Consumer price inflation in Vietnam averaged 2.9% in the ten years to 2024, in line with the ASEAN regional average of 3.0%. The 2024 average figure was 3.6%. For more information on inflation, visit our dedicated page.
Vietnam Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for Vietnam from 2014 to 2024.
Source: Macrobond.
Vietnam Inflation Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | 3.2 | 1.8 | 3.2 | 3.3 | 3.6 |
| Inflation (CPI, ann. var. %, eop) | 0.2 | 1.8 | 4.5 | 3.6 | 2.9 |
| Inflation (PPI, ann. var. %, aop) | -0.6 | 2.9 | 4.2 | -0.9 | 0.6 |
Inflation declines in July
Latest reading: Inflation fell to 3.2% in July from June’s 3.6%, marking the weakest inflation rate since April, and remaining below the government’s 4.5% inflation target. Looking at the details of the release, the result was driven by moderating price pressures for food plus housing and construction materials. Moreover, transportation costs dropped at a steeper pace. In addition, the trend pointed down mildly, with annual average inflation coming in at 3.1% in July (June: 3.2%). Finally, consumer prices increased 0.11% in July over the previous month, coming in below the 0.48% rise logged in June. July's result marked the weakest reading since April.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Vietnamese inflation projections for the next ten years from a panel of 26 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Vietnamese inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Vietnamese inflation projections.
Want to get access to the full dataset of Vietnamese inflation forecasts? Send an email to info@focus-economics.com.
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