The annual inflation rate in Vietnam declined to 2.40 percent in May of 2020 from 2.93 percent in the previous month. This was the lowest inflation rate since October of last year, due to the initiative in controlling petrol prices by government amid a loosening of coronavirus-related lockdown measures. Transport prices fell more (-23.37 percent vs -19.57 percent in April), due to the decrease in the petrol and oil prices. Also, inflation slowed mostly for housing & construction materials (0.37 percent vs 1.41 percent), textiles, footwear, hat (0.82 percent vs 0.95 percent) and education (4.58 percent vs 4.63 percent). On the other hand, costs rose faster for food & catering services (12.11 percent vs 11.78 percent). Annual core inflation, which excludes volatile items, went down to 2.54 percent in May, the lowest since last November.
Inflation Rate in Vietnam averaged 6.19 percent from 1996 until 2020, reaching an all time high of 28.24 percent in August of 2008 and a record low of -2.60 percent in July of 2000. This page provides the latest reported value for - Vietnam Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Vietnam Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2020. source: General Statistics Office of Vietnam
Inflation Rate in Vietnam is expected to be 0.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Vietnam to stand at 3.40 in 12 months time. In the long-term, the Vietnam Inflation Rate is projected to trend around 5.00 percent in 2021 and 4.00 percent in 2022, according to our econometric models.