Inflation in Vietnam

Vietnam Inflation | Economic News & Forecasts

Vietnam - Inflation

Inflation plunges to lowest level since March in September

Consumer prices fell 0.62% in September over the previous month, contrasting the 0.25% increase seen in August. September's result marked the weakest reading since April 2020. The decline was broad-based, with reduced price pressures recorded for food, transportation, and housing prices.

Inflation eased to 2.1% in September, following August’s 2.8%. September's figure marked the lowest inflation rate since March. Accordingly, the trend pointed down slightly, with annual average inflation coming in at 1.7% in September (August: 1.8%).

Despite a strengthening of domestic demand this year, disinflationary pressures will come from falling 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. However, the recent uptick in Covid-19 cases clouds the inflation picture ahead.

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 3.7%.

Vietnam - Inflation Data

2015   2016   2017   2018   2019  
Inflation Rate (CPI, annual variation in %)0.6  2.7  3.5  3.6  2.8  

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Vietnam Inflation Chart

Vietnam Inflation
Note: Annual average variation of consumer price index (CPI) in %.
Source: General Statistics Office of Vietnam and FocusEconomics calculations.

Vietnam Facts

Value Change Date
Bond Yield3.38-0.13 %Dec 31
Exchange Rate23,1730.01 %Jan 01

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