Inflation in Vietnam
Vietnam - Inflation
Inflation drops to lowest level since October in May
Consumer prices dropped 0.03% over the prior month in May, a smaller fall than April's 1.54% drop. Looking at the details of the release, food prices increased in May, while price pressures for transportation dropped at a less pronounced pace.
Inflation came in at 2.4% in May, below April’s 2.9%. May's reading was the lowest inflation rate since October 2019. Annual average inflation remained at April's 3.5% in May.
Looking ahead, our panelists see inflation remaining under control due to mild growth and low fuel prices, which should provide room for the State Bank of Vietnam to continue to adopt an accommodative monetary stance.
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 3.2%.
Vietnam - Inflation Data
|Inflation Rate (CPI, annual variation in %)||4.1||0.6||2.7||3.5||3.6|
5 years of economic forecasts for more than 30 economic indicators.
Vietnam Inflation Chart
Source: General Statistics Office of Vietnam and FocusEconomics calculations.
|Bond Yield||3.38||-0.13 %||Dec 31|
|Exchange Rate||23,173||0.01 %||Jan 01|
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May 29, 2020
Industrial output declined 3.1% compared to the same month a year earlier in May, which was a smaller contraction than April's 9.4% decrease.
May 29, 2020
Consumer prices dropped 0.03% over the prior month in May, a smaller fall than April's 1.54% drop.
May 13, 2020
On 13 May, the State Bank of Vietnam (SBV) reduced a host of interest rates, with the refinancing rate being cut from 5.00% to 4.50%.
May 4, 2020
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) registered 32.7 in April, down from 41.9 in March.
May 1, 2020
Industrial output fell a staggering 11.4% in year-on-year terms in April, which contrasted March's 5.4% increase.