FocusEconomics Consensus Forecast panelists expect inflation to average 2.9% in 2021, which is unchanged from last month’s forecast. IMF emphasised that the risk of slowing down remains for the Vietnamese economy although the country has been controlling the pandemic very well. Core Inflation Rate in Vietnam averaged 1.68 percent from 2015 until 2019, reaching an all time high of 2.20 percent in April of 2015 and a record low of 1.18 percent in January of 2018. In 2021, the market was growing at a steady rate and with the rising adoption of strategies by key players, the … This should see the central bank keep lending conditions accommodative into 2021. Rapid economic growth may boost inflation, the specialists noted, adding that … ... Thailand, Philippines, Malaysia and Vietnam… Sep 2020. This is due to the dong’s persistent overvaluation and higher structural inflation in Vietnam versus the US. A low base effect would contribute a further to 6.5% growth next year. 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. Inflation forecast, measured in terms of the consumer price index (CPI) or harmonised index of consumer prices (HICP) is defined as the projected change in the prices of a basket of goods and services that are typically purchased by households. Jul 26, 2021 7:00 AM -07:00 Rich Dvorak, Analyst. 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. In this context, the inflation rate in 2020 is forecast to remain lower than 4% and may achieve the proposed target. In January, the NCIF forecast that Vietnam’s 2020 inflation rate will be about 3.2 per cent. 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 HSBC. July 14, 2021. Vietnam's inflation rate forecasted to remain below 4% in 2020. 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. HANOI, July 20 (Xinhua) -- The Asian Development Bank (ADB) has lowered its forecast of Vietnam's gross domestic product (GDP) growth to 5.8 percent in 2021 from the previous estimate of 6.7 percent in April, citing impacts of the COVID-19 pandemic. Data. 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%. For 2022, the panel projects inflation to average 3.7%. The official interest rate is the Refinancing Rate. June 29, 2021. Inflation Rate in China averaged 4.99 percent from 1986 until 2021, reaching an all time high of 28.40 percent in February of 1989 and a record low of -2.20 percent in April of 1999. The annual inflation rate in Vietnam increased to 2.7 percent in April of 2021, the highest since last September, from 1.16 percent in the previous month, due mainly to a faster rise in housing & construction materials prices (2.78 percent vs 0.82 percent in March), while transport prices rebounded sharply (17.67 percent vs -0.48 percent). 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. Vietnam’s inflation in 2021 is forecast to be higher than last year: According to the International Monetary Fund (IMF), inflation in Vietnam will be 4 per cent, higher than last year’s 2.31 per cent. Standard Chartered has recently lowered its US dollar – Vietnamese đồng forecasts to 22,900 at the end of the third quarter of 2021 (from 23,100) and to 22,850 at the end of 2021 (23,000). Vietnam inflation rate for 2017 was 3.52%, a 0.85% increase from 2016. We maintain our forecast that inflation will be lower in 2021 than in 2020, despite rising commodity prices. Although we do not expect further rate cuts, we believe the SBV will not raise rates in 2021 to aid the economy through maintaining loose monetary policies,” Hiền said. 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). Major political reform will not occur in the forecast period. 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). In its "World Economic Outlook" report released in April, IMF said Vietnam’s inflation rate is forecast to be 3.2 percent, lower than the 4 percent target set for the year. 1985 1990 1995 2000 2005 2010 2015 2020 % 0 2 4 6 8 10 12 14 World. 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. Visit Vietnam Insider for more stories. Corrigendum, 7 April 2020: 2018 Inflation for Brunei Darussalam changed from 0.1% to 1.0% Inflation Rate, Asian Development Outlook 2019 Update (CSV) South Sudan’s inflation rate is the fifth-highest in the world at 36.4%. “However, we will have to revise this because everything has changed due to COVID-19. This page has economic forecasts for Vietnam including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Vietnam economy. One factor to watch, according to UOB, is Vietnam’s inflation rate, which has risen to 2.9% year-on-year in May. A third term as general secretary for Nguyen Phu Trong, ending in 2026, will ensure policy continuity. 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. Vietnam had made progress in accelerating vaccine procurement, and would receive 62.4 million doses to immunize 30 percent of its population by the end of next year, it said. The median forecast for 2021 inflation from more than 100 economists in the central bank's weekly FOCUS survey rose to 6.3% from 6.1%, significantly above the bank's year-end goal of 3.75% and more than a percentage point above the 5.25% upper limit of its wider range. For 2022, the panel projects inflation to average 3.6%. Markets Week Ahead: Euro, Dollar, Gold, S&P 500, Fed, Earnings, Inflation. “In the context of cooling inflation pressure, we expect the SBV to maintain an adaptive monetary policy in 2021. Data. In 2018, the average inflation rate in Thailand amounted to about 1.06 percent compared to the previous year, when it was just recovering from a slump below the 0-percent-mark in 2015. Credit growth targets. New interest rate level forecast in Q2 2021. Vietnam: Inflation comes in at highest level since September 2020 in May. Inflation Rate in Lebanon increased by 6.06 % in May 2021 over the previous month. Vietnam inflation rate for 2018 was 3.54%, a 0.02% increase from 2017. Inflation Rate in Thailand increased by 2.44 % in May 2021 over the same month in the previous year. 4 %. After a severe drop below one percent in … THE INSTITUTE of International Finance (IIF) slashed its growth forecast for the Philippines this year to 6.5% due to renewed lockdown measures imposed to curb a fresh wave of coronavirus cases and a slow mass vaccination program. License : CC BY-4.0. Inflation Rate Mom in Vietnam averaged 0.50 percent from 1995 until 2020, reaching an all time high of 3.91 percent in May of 2008 and a record low of -1.14 percent in March of 2000. Historical Data (%) by years. Accordingly, Fitch Solutions forecast Vietnam’s benchmark refinancing rate to remain at 6.00% through 2020. Jul 20, 2021 (The Expresswire) -- Vietnam Aluminium Market Report is projected to grow at a CAGR of over 7% during the forecast period 2021-2024. Despite unfavourable factors, including the COVID-19 pandemic and natural disasters, economic experts forecast Vietnam is likely to control its inflation at 4% for 2021. May 29, 2021 We at Fitch Solutions forecast Vietnam’s credit growth to be 14.0% in 2021, slightly higher than our prior forecast of 12.0% growth. An item that cost 100 Dong in 1996 was so charged 421.21 Dong in the beginning of 2021. 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). Vietnam’s inflation in 2021 is forecast to be higher than last year. During the observation period from 1996 to 2020, the average inflation rate was 6.3% per year. “Inflation is developing above the Bank of Russia’s forecast,” it said in a statement, adding that the increase in its key rate aimed to “constrain this risk” and return inflation to four per cent. Vietnam inflation rate for 2020 was 3.22%, a 0.43% increase from 2019. 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: Economic growth accelerates in Q2. , May 11, 2021. Line Bar Map. Vietnam's annual core inflation, which excludes volatile items, increased to a seven-month high of 1.14. percent in June 2021 from 1.13 percent in May 2021.. Historical Data (%) by years. 2000 - 2021. Read more. The forecast for India is downgraded by 1.0 percentage point to 10.0%. FocusEconomics Consensus Forecast panelists expect inflation to average 2.8% in 2021, which is down 0.1 percentage points from last month’s forecast. 7.01 %. For 2022-25, our forecast is essentially unchanged; we expect moderate core inflation averaging 2.3%, just … Inflation was expected to average 2.8 percent this year, providing flexibility for the central bank to remain on hold in 2021… Vietnam also posted a trade surplus of US$1.3 billion in the first four months of 2021. Data published Monthly by Bureau of Trade and Economic Indices. Vietnam inflationary pressures predicted to remain weak in 2020 – 2021. Overall, the price increase was 321.21 %. The State Bank of Vietnam. May 29, 2021. 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. The official interest rate is the Refinancing Rate. Year-over-year inflation rates give a clearer picture of price changes than annual average inflation. The Consumer Price Index in Vietnam increased 0.17 percent in June of 2021 over the previous month. In this Markets in a Minute chart from New York Life Investments, we’ve mapped the IMF’s country-level GDP forecasts to see which areas are expected to have the greatest rebounds. The H1- 2021 average CPI rose 1.46% YoY, which is safe compared to the limit of less than 4% mentioned in the Government’s Resolution 01/NQ-CP earlier this year. Consumer price index (2010 = 100) Consumer prices rose 0.16% over the previous month in May, swinging from April's 0.04% drop. Vietnam recorded decade-low GDP growth of 1.8% in the first half of this year, and expansion is forecast at … The State Bank of Vietnam. Inflation Rate in Malaysia increased by 4.4 % in May 2021 over the same month in the previous 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. 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. Despite the challenges of the COVID-19 pandemic, Vietnam’s economy has remained resilient, expanding by 2.9 percent in 2020—one of the highest growth rates in the world—and growth is projected to be 6.5 percent in 2021, thanks to strong economic fundamentals, decisive containment measures and well-targeted government support, according to the IMF’s latest annual assessment of the country’s … *2020-2021 are forecasts. Historical Data (%) by years. The rates of consumer price inflation in Singapore, Thailand, Indonesia and Malaysia were projected at modest-to-moderate levels of 0.2%, 1.3%, 2.0% and 2.0% respectively in 2021, while those in the Philippines and Vietnam were forecast at 3.4% and 3.9% respectively in 2021 (Chart 5). Our new inflation forecast for 2020 may be at least 4 per cent,” Anh said. The U.S. inflation rate by year is how much prices change year-over-year. We now forecast Vietnam’s construction to grow by 8.2% y-o-y in real terms in 2021, and at an annual average of 7.0% between 2022 and 2030, making it one of the Read More Unpacking Vietnam's 2021-2025 Five-Year Plan Vietnam: Inflation comes in at highest level since September 2020 in May. What is inflation rate in Vietnam 2021? Viet Nam's inflation rates forecasted at 3.8% in 2021 and 4.0% in 2022 – ADO 2021 Per capita GDP growth for Viet Nam is expected at 5.4% in 2021 and 5.6% in 2022 – ADB Report GDP growth VietReader. Research expert covering historical data. Vietnam: Industrial output growth dips in June. The bank maintains its 7.3 per cent growth forecast … We expect 2021 core inflation of 2.5%. This statistic shows the average inflation rate in Laos from 1986 to 2019, with projections up until 2026. The government targets annual GDP growth of 7 percent from 2021 to 2025 to make … The maximum level was 35.57 % and minimum was -5.69 %. Historical Data (%) by years. We continue to forecast inflation averaging 3.5% in 2021, which would put it below the 4.0% threshold set by the government for the year. Jul 19, 2021 (The Expresswire) -- Vietnam Retail Sector Market Report is projected to grow at a CAGR of during the forecast period 2021-2024. We maintain our forecast that inflation will be lower in 2021 than in 2020, despite rising commodity prices. FocusEconomics Consensus Forecast panelists expect inflation to average 2.8% in 2021, which is down 0.1 percentage points from last month’s forecast. Factoring a stronger 2021 forecast, we have revised our 2022 average forecast to VND23,200/USD, from VND23,600 per US dollar previously. 5. Visit Vietnam Insider’s homepage for more stories; Singapore-based United Overseas Bank (UOB) has forecast that Vietnam’s gross domestic product (GDP) growth rate would rebound to 6.7 percent in 2021 from 2.9 percent in 2020, regardless of the impacts of the COVID-19 pandemic. 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