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
| 2014 | 2015 | 2016 | 2017 | 2018 | |
|---|---|---|---|---|---|
| Inflation Rate (CPI, annual variation in %) | 4.1 | 0.6 | 2.7 | 3.5 | 3.6 |
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 falls in May, albeit at reduced rate
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.
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Vietnam: Inflation drops to lowest level since October in May
May 29, 2020
Consumer prices dropped 0.03% over the prior month in May, a smaller fall than April's 1.54% drop.
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Vietnam: Central Bank cuts rates for second time this year in May
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%.
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Vietnam: Manufacturing PMI plummets in April
May 4, 2020
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) registered 32.7 in April, down from 41.9 in March.
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Vietnam: Industrial activity plunges on Covid-19 contagion in April
May 1, 2020
Industrial output fell a staggering 11.4% in year-on-year terms in April, which contrasted March's 5.4% increase.
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