Latest reading: Inflation eased to 1.5% in May, below April’s 2.0%. May’s figure marked the weakest inflation rate since March...
Inflation in Vietnam
In the year 2024, the inflation in Vietnam was 3.63%, compared to 4.10% in 2014 and 3.26% in 2023. It averaged 2.94% over the last decade. For more inflation information, 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
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | 2.8 | 3.2 | 1.8 | 3.2 | 3.3 |
| Inflation (CPI, ann. var. %, eop) | 5.2 | 0.2 | 1.8 | 4.5 | 3.6 |
| Inflation (PPI, ann. var. %, aop) | 1.3 | -0.6 | 2.9 | 4.2 | -0.9 |
Inflation moderates in February
Latest reading: Inflation dropped to 2.9% in February from January’s 3.6%, below market expectations and driven by the seasonal effect of the Lunar New Year. Looking at the details of the release, the moderation was chiefly driven by softer price pressures for food. Moreover, transport prices declined at a sharper rate. That said, housing and utilities prices rose at a faster pace. As a result, the trend pointed down, with annual average inflation edging down to 3.6% in February (January: 3.7%). Lastly, consumer prices rose 0.34% over the previous month in February, decelerating from January's 0.98% rise.
Panelist insight: Commenting on the outlook, Emerging Market Watch analysts stated: “Looking ahead, inflation is expected to rise in the coming months as both fiscal and monetary policies remain accommodative. Additionally, the government appears to have a higher tolerance for inflation in pursuit of robust economic growth. The National Assembly has approved an upward adjustment of the inflation target for this year to a range of 4.0%-4.5%.”
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 27 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.
Latest Global Inflation News
-
Taiwan: Inflation declines to lowest level since March 2021 in May -
Thailand: Consumer prices drop further in May Latest reading: Consumer prices decreased 0.6% year on year in May, following April’s 0.2% fall. May’s reading represented the largest... -
Dominican Republic: Inflation increases to over one-year high in May Latest reading: Inflation rose to 3.8% in May from April’s 3.7%. May’s figure represented the highest inflation rate since November... -
Philippines: Inflation inches down in May Latest reading: Inflation came in at 1.3% in May, which was down from April’s 1.4%. May’s result represented the weakest... -
Mexico: Inflation comes in at highest level since November 2024 in May Latest reading: Inflation came in at 4.4% in May, up from April’s 3.9%. May’s result represented the highest inflation rate... -
Switzerland: Consumer prices record first annual decline since March 2021 in May Latest reading: Consumer prices fell 0.1% year-on-year in May, swinging from April’s flat reading. May’s result represented the first such... -
Ukraine: Inflation hits over two-year high in May Latest reading: Inflation came in at 15.9% in May, which was up from April’s 15.1% and was the highest one...