Inflation in Vietnam
Vietnam - Inflation
Inflation comes in at highest level since September 2020 in May
Consumer prices rose 0.16% over the previous month in May, swinging from April's 0.04% drop. The bounce back in price pressures was primarily driven rising house prices, as well as by a more moderate decrease in food prices.
Inflation ticked up to 2.9% in May, above April’s 2.7% and marking the highest inflation rate since September 2020. Annual average inflation in April was unchanged at 1.9%, where it has remained for the past three months.
Looking ahead, despite a strengthening of domestic demand this year, disinflationary pressures will come from falling food costs, particularly pork prices as herd sizes continue to recover from the African swine fever outbreak that affected the domestic pig population during the past year. As such, our panelists see inflation averaging slightly lower this year than in 2020 and well below the State Bank of Vietnam’s 4.0% target.
FocusEconomics Consensus Forecast panelists expect inflation to average 2.9% in 2021, which is unchanged from last month’s forecast. For 2022, the panel projects inflation to average 3.6%.
Vietnam - Inflation Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Inflation Rate (CPI, annual variation in %) | 0.6 | 2.7 | 3.5 | 3.6 | 2.8 |
Vietnam Inflation Chart
Source: General Statistics Office of Vietnam and FocusEconomics calculations.
Vietnam Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 3.38 | -0.13 % | Dec 31 |
| Exchange Rate | 23,173 | 0.01 % | Jan 01 |
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Economic News
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Vietnam: Industrial output growth eases in May
May 29, 2021
Industrial output expanded 11.6% in year-on-year terms in May, which was a deterioration from April's 24.6% surge.
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Vietnam: Inflation comes in at highest level since September 2020 in May
May 29, 2021
Consumer prices rose 0.16% over the previous month in May, swinging from April's 0.04% drop.
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Vietnam: Inflation hits seven-month high in April
April 29, 2021
Consumer prices fell 0.04% in April over the previous month, a more moderate drop than the 0.27% drop logged in March.
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Vietnam: Industrial output growth gains momentum in April
April 29, 2021
Industrial production rose 24.1% year-on-year in April (March: +6.1% yoy).
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Vietnam: Inflation rises in March
March 29, 2021
Consumer prices fell 0.27% over the previous month in March, swinging from the 1.52% rise logged in February.
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