ET. In March, Vietnam’s consumer price index (CPI), the main gauge for inflation, declined by 0.27% month-on-month and up 0.29% year-on-year, the lowest growth rate for the past 20 years. Data published Monthly by General Statistics Office. August 09, 2020 | 06:28. Accordingly, Fitch Solutions forecast Vietnam’s benchmark refinancing rate to remain at 6.00% through 2020. The official interest rate is the Refinancing Rate. Pages • 1. how much prices have changed since last year. Vietnam’s economic growth forecasted to rebound to 7% growth in 2021. June 29, 2021. Although the average consumer price index (CPI) in the last 7 months was higher than the same period in 2019, the inflation rate in 2020 is forecasted to be lower than 4% and achieve the target set by the National Assembly. Consumer prices rose 0.16% over the previous month in May, swinging from April's 0.04% drop. The latest comprehensive information for - Vietnam Core Inflation Rate - including latest news, historical data table, charts and more. Consumer Price Index CPI in Vietnam increased to 104.86 points in June from 104.68 points in May of 2021. If this number holds, $12.94 today will be equivalent in buying power to $13.64 next year. The Ministry of Industry and Trade is tasked with managing the price of petroleum products in a flexible manner and follow the market mechanism, while setting up different options for electricity prices in 2021. Label. Vietnam inflationary pressures predicted to remain weak in 2020 – 2021. Meanwhile, the sharp-eyed GOP is tracking of inflation… One factor to watch, according to UOB, is Vietnam’s inflation rate, which has risen to 2.9% year-on-year in May. source: General Statistics Office of Vietnam. Vietnam’s inflation rate in 2021 is set to average around 3% in 2021, mainly reflecting the impact of moderating food prices, which should more than offset recovering oil-related prices, according to … According to the International Monetary Fund (IMF), inflation in Vietnam will be 4 per cent, higher than last year’s 2.31 per cent. Vietnam's accelerating inflation is threatening to morph into a full-blown crisis, and it provides a warning to other Asian countries trying to tamp … Vietnam also posted a trade surplus of US$1.3 billion in the first four months of 2021. by Linka Nguyen July 3, 2021. June 29, 2021. Vietnam – Credit Growth, % e/f = Fitch Solutions estimate/forecast. Mortgage rates topped 18%. 5. This brings the Philippines’ average inflation for the first semester of 2021 at 4.4 percent. Historical Data (index points) by years If this number holds, $4,559 today will be equivalent in buying power to $4,804.80 next year. Visit Vietnam Insider for more stories. The Consumer Prices Index including owner occupiers’ housing costs (CPIH) rose by 2.1% in the 12 months to May 2021, up from 1.6% to April. Vietnam’s HCMC has registered nearly 5,000 Covid-19 cases, the outbreak remains unpredictable. Sri Lanka is now trying maintain a stable exchange rate but has no monetary policy to back it unlike Vietnam. Candy Lee. 2000 - 2021. Vietnam Inflation The main context of this article concerned about inflation problem in Vietnam. 4 %. Vietnam Inflation chart, historic, and current data. “However, we will have to revise this because everything has changed due to COVID-19. Vietnam’s inflation in 2021 is forecast to be higher than last year. High pork prices were among the factors contributing to the CPI growth in June. Ngoc Thuy. In 2020, inflation dropped to 1.4%, the lowest rate since 2015. The Consumer Prices Index including owner occupiers’ housing costs (CPIH) rose by 1.6% in the 12 months to April 2021, up from 1.0% growth to March. You may have even heard some folks talk about the “Great Inflation” during the Vietnam War. 3 min read. This brings the average inflation at the national level from January to April 2021 to 4.5 percent. This is due to excess capacity in the economy as a result of the slowdown as well as weak demand. GDP growth clocked in at 6.6% year-on-year in the second quarter of 2021, accelerating from the 4.7% growth recorded in Q1. Vietnam’s inflation rate is set to average around 3% in 2021. That's Jimmy Carteresque." 29 … Read more. June 29, 2021. This should see the central bank keep lending conditions accommodative into 2021. Vietnam has raised its main interest rate by two percentage points, but the country is still facing a tough fight to control inflation, analysts say. U.S. consumer prices increased by … Line Bar Map. The country’s headline inflation rate slowed down to 4.1 percent in June 2021, after recording an inflation of 4.5 percent for three consecutive months. By comparison, inflation sits around 2.5% as of June 2021. Inflation is expected to decline in 2021, according to economists. The consumer price index (CPI), an index used as a proxy for inflation in consumer prices, offers some answers. Rates of inflation are calculated using the current Consumer Price Index published monthly by the Bureau of Labor Statistics ().BLS data was last updated on July 13, 2021 and covers up to June 2021. The following table presents the monthly inflation rate, i.e. In June 2020, inflation … the rate of increase (or decrease) in the basket of goods and services tracked by the U.S. Bureau of Labor Statistics over the last month. For 2022, the panel projects inflation to average 3.7%. South Sudan. The inflation rate for consumer prices in Vietnam moved over the past 24 years between -1.7% and 23.1%. On a monthly basis, CPIH rose by 0.5% in May 2021, compared with little change in May 2020. Related Fitch Ratings Content: Frontier Vision - 2Q21 Fitch Ratings-London-13 July 2021: The trend of rising inflation in recent months has also been seen in Frontier Markets (FM), fuelled by higher commodity prices, supply-chain pressures and the gradual lifting of restrictions to curb the Covid-19 pandemic, says Fitch Ratings in its latest ‘Frontier Vision’ chart pack. Market. Rising global commodity prices could lead to the return of inflation in Vietnam with an estimated rate of 3.5% year-on-year in 2021, 0.3 percentage points higher than the 3.2% inflation rate last year, but remains below the 4% target set by the National Assembly, according to Viet Dragon Securities Company (VDSC). GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. Prices increased 12% to 15% per year. While there are several upside risks, moderating food prices should keep Vietnam’s inflation under control. In Vietnam, interest rates decisions are taken by The State Bank of Vietnam. Myanmar inflation rate for 2018 was 6.87%, a 2.3% increase from 2017. Inflation, consumer prices (annual %) International Monetary Fund, International Financial Statistics and data files. Vietnam’s inflation is set to remain below the government’s 4% threshold for most of the year with its average forecast at 3.5%. The current year-over-year inflation rate (2020 to 2021) is now 5.39% 1. Year-over-year inflation rates give a clearer picture of price changes than annual average inflation. There’s worse to come, as higher housing costs feed into consumer prices. You may have even heard some folks talk about the “Great Inflation” during the Vietnam War. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Prices increased 12 to 15 percent per year. Gopinath, G (2021), “Structural Factors and Central Bank Credibility Limit Inflation Risks”, IMFBlog. Consumer Price Index in Vietnam remained unchanged at 105 index points in June 2021. Sep 2020. Vietnam inflationary pressures predicted to remain weak in 2020 – 2021. Aktuelle værdier, historiske data, prognoser, statistik, diagrammer og økonomisk kalender - Vietnam - Inflation-Rate. The Consumer Price Index in Vietnam increased 0.17 percent in June of 2021 over the previous month. The annual inflation rate for the United States is 5.4% for the 12 months ended June 2021 after rising 5.0% previously, according to U.S. Labor Department data published July 13. The economy of Vietnam is a socialist-oriented market economy, which is the 37th-largest in the world as measured by nominal gross domestic product (GDP) and 23rd-largest in the world as measured by purchasing power parity (PPP) in 2020. Vietnam’s inflationary pressures are predicted to remain weak in the 2020 – 2021 period, despite aggressive monetary easing by the State Bank of Vietnam (SBV), according to Fitch Solutions, a subsidiary of Fitch Group. Mortgage rates topped 18 percent. The 1975 inflation rate was 9.13%. As further support, we expect the SBV to hold its policy discount and refinancing rates at 4.00% and 2.50%, respectively, particularly since inflation will broadly be within the central bank’s threshold. Vietnam: Industrial output growth dips in June. Ngoc Thuy 10:02, 2020/10/06. Typically when we talk about inflation we are talking about the change in prices (price inflation) on a yearly or annual basis, i.e. It means the cost of living is much. June 29, 2021. Gagnon, J (2021), “Inflation fears and the Biden stimulus: Look to the Korean War, not Vietnam”, Peterson Institute for International Economics Realtime Economic Issues Watch, 25 February. Candy Lee. Credit growth targets. Vietnam: Inflation comes in at highest level since September 2020 in May. MEXICO CITY, July 13 (Businesshala) – Although the Bank of Mexico raised its key interest rate last month to curb inflation, analysts have raised their forecast for Mexican inflation to nearly 6% at the end of the year, The central bank has doubled the target. NEW YORK - A 10% surge in used car prices pushed the “core” US Consumer Price Index (CPI) up by 0.9% in April – an annualized rate of increase of more than 11% – in the highest inflation print since the Great Financial Crisis of 2008. Meanwhile, inflation in April 2020 was registered at 2.2 percent. Inflation rates in May increased by 0.16 percentage points compared to April, the highest growth rate since September 2020, driven by the growth in transportation and housing prices. June 29, 2021. Consumer Price Index CPI in Vietnam averaged 57.42 points from 1995 until 2021, reaching an all time high of 115.96 points in June of 2020 and a record low of 23.16 points in January of 1995. Inflation Rate, Asian Development Outlook Update 2020 - September 2020 (CSV) FocusEconomics panelists project the economy will expand 6.5% in 2020, which is down 0.1 percentage points from last month’s forecast, and 6.6% in 2021. 5 years of Vietnam economic forecasts for more than 30 economic indicators. Cookies Policy: We use third-party cookies to improve our services by analyzing your browsing habits. “The core inflation rate should be kept below 2.5% in 2021 to create room for overall price management,” asserted Mr. Phuc. Turmoil in the bond markets, improving economic indicators, and a raft of government aid has economists and investors wondering: Is inflation set to rise in 2021… Consumer price index (2010 = 100) The government targets annual GDP growth of 7 percent from 2021 to 2025 to make … By April 2019, inflation slowed to 40% thanks to an increase in oil output. Vietnam’s inflation is set to remain below the government’s 4% threshold for most of the year with its average forecast at 3.5%. Current Vietnam Inflation is 3.24%. In January, the NCIF forecast that Vietnam’s 2020 inflation rate will be about 3.2 per cent. Vietnam: Industrial output growth dips in June. The State Bank of Vietnam. The table of historical inflation rates displays annual rates from 1914 to 2021. 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. This should see the central bank keep lending conditions accommodative into 2021. 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