The inflation rate is based upon the consumer price index (CPI). 1985 1990 1995 2000 2005 2010 2015 2020 % 0 2 4 6 8 10 12 14 World. Vietnam's inflation in 2020 remains under control. Vietnam Inflation Rate Outlook, Average Consumer Prices is at 4.00%, compared to 4.00% last year. We now expect inflation to average 3.2 per cent on-year in 2020 (4 per cent previously) to account for slower domestic activity.” Meanwhile, the ADB forecast that for the whole of 2020, inflation in Vietnam is expected to average 3.3 per cent, rising further to 3.5 per cent in 2021. Vietnam's headline inflation averaged 5.6% year-on-year in the first quarter, but has been gradually decreasing since last December. Vietnam, which benefited from the shift of U.S. supply chains away from China amid a tariff war, saw its goods trade surplus with the United State jump 25% in 2020 … ... Apr 14, 2020. Jul 16, 2021. Vietnam’s inflation in 2020 estimated at 3.23%. 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 Human Capital Index (HCI) database provides data at the country level for each of the components of the Human Capital Index as well as for the overall index, disaggregated by gender. None. According to the General Statistics Office of Vietnam (GSO), the consumer price index (CPI) in August 2020 increased by 0.07% against that of July 2020; down by 0.12% as compared to December 2019. Core inflation in December 2020 increased by 0.07% over the previous month and increased by 0.99% over the last year. Indicator. Source: CIA World Factbook - Unless otherwise noted, information in this page is accurate as of December 1, 2020. Definition of Inflation rate (consumer prices): This entry furnishes the annual percent change in consumer prices compared with the previous year's consumer prices. International Monetary Fund, International Financial Statistics and data files. FIGURE 2 Vietnam / Actual and projected poverty rates and real GDP per capita Sources: World Bank. Report. Malaysia was estimated to have had the lowest inflation rate in Southeast Asia in 2020, at -1.1 percent. The average inflation rate in 2018 was 3.54 percent while the Consumer Price Index (CPI) in the first ten months of 2019 rose by 2.48 percent. Corrigendum, 7 April 2020: 2018 Inflation for … Average core inflation of 2020 went up by 2.31% compared to that in 2019. World Economic Outlook. Vietnam inflation rate likely to drop below 4% in H2/2020. Last 12 readings. Accordingly, Fitch Solutions forecast Vietnam’s benchmark refinancing rate to remain at 6.00% through 2020. Comparatively, Vietnam's inflation rate … The maximum level was 3.91 % and minimum was -1.54 %. Sources: World Bank. The average CPI of the 8 months of 2020 increased by 3.96% in … Vietnam’s inflation to moderate to 2.7 percent in 2019: HSBC. South Sudan’s inflation rate is the fifth-highest in the world at 36.4%. 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%. Entering 2020, according to Mr. Ngo Dang Khoa, Vietnam has a basis to expect the exchange rate to continue to be operated under a flexible mechanism. Meanwhile, the nation’s inflation rate climbed 3.18% year-on-year in August on increasing food and energy costs after rising to a four-month high in July. IndexMundi Survey. This put the average CPI growth in the first four months by 0.89%, the lowest growth rate since 2016, while core inflation in the January – April period increased by 0.74%. Vietnam’s inflation in 2020 estimated at 3.23%. The International Monetary Fund has revised upward its forecast for Vietnam’s 2020 GDP growth by 0.8 percentage points to 2.4 percent. Vietnam approached hyperinflation of over 10% in 2008, 2010 and 2011 due to the Great Recession. Vietnam's inflation in 2020 remains under control. This statistic shows the average inflation rate in Laos from 1986 to 2019, with projections up until 2026. 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. Inflation as measured by the consumer price index reflects the annual percentage change in … The average inflation rate in 2018 was 3.54 percent while the Consumer Price Index (CPI) in the first ten months of 2019 rose by 2.48 percent. The inflation rate for consumer prices in Vietnam moved over the past 24 years between -1.7% and 23.1%. A low base effect would contribute a further to 6.5% growth next year. From 2012 onwards, the inflation rate has stayed at a moderate rate of below 10%, standing at 2.8% in 2019. Vietnam's inflation rate forecasted to remain below 4% in 2020. “This is the lowest GDP growth level in the 2011-2020 period. Vietnam's consumer price index (CPI), the main gauge of inflation, expanded at 3.23% year-on-year, lower than the year’s projection of 4% by the National Assembly, according to the General Statistics Office (GSO). Data. Monthly inflation rate in Japan was -0.49% in November 2020. A lot of pressure for inflation control in 2020. Vietnam prices Indicators All Vietnam indicators. Inflation rates in SEA 2016-2022, by country. Vietnam's cost of living rises 3.23% in 2020. Argentina’s inflation rate is expected to continue to fall to 42.2% in 2020. FocusEconomics Consensus Forecast panelists expect inflation to average 2.8% in 2021, which is down 0.1 percentage points from last month’s forecast. What Is A Forward Contract? Accessed Nov. 30, 2020. Last 12 readings. March 12, 2021. Average core inflation of 2020 went up by 2.31% compared to that in 2019. Updated as of 2020. 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 is a member of Asia-Pacific Economic Cooperation, Association of Southeast Asian Nations and the World Trade Organization. Inflation rate in Vietnam 2026* Vietnam… Inflation, consumer prices (annual %) - Vietnam. Vietnam inflationary pressures predicted to remain weak in 2020 – 2021. Vietnam reported its slowest inflation in 2020 admin Consumer price gains slowed for a fourth month to 1.48% year-on-year in November on declines in fuel, travel and transportation costs, data from the statistics office showed. Detailed statistics. FocusEconomics Consensus Forecast panelists expect inflation to average 3.8% in 2020, which is up 0.2 percentage points from last month’s forecast. For 2021, the panel projects inflation to average 3.5%. 5 years of economic forecasts for more than 30 economic indicators. Note: Annual average variation of consumer price index (CPI) in %. 2000 - 2021. 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. 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 … This should see the central bank keep lending conditions acco, X This should see the central bank keep lending conditions accommodative into … Aggregates. Same region. The SBV expected Vietnam’s CPI in 2020 to be in range of 3.2 – 4.02%, while the General Statistics Office (GSO) also forecast two scenarios, one from 3.5 – 3.7% and another from 3.8. Jan 2020. On a monthly basis, consumer prices went up 0.59 percent. Inflation Rate in Vietnam averaged 6.26 percent from 1996 until 2019, 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. source: General Statistics Office of Vietnam. None. March 12, 2021. Vietnam’s minimum wage hike of 5.7 is higher than last year’s hike of 5.3 percent but lower than in 2018 and 2017. 2.8. License : CC BY-4.0. After a severe drop below one percent in 2015, Vietnam’s inflation … Sep 2020. In April, Vietnam’s CPI declined by 0.04% against last month but rose by 1.27% compared to late 2020. Category. ... Trading Economics. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. Jan 2021. The increase in CPI was primarily driven by rising food prices, which was up 3.5% year-on-year in 2020. The World Bank predicted that the rate will be 3.5 per cent in 2020, 3.7 per cent in 2021, and 3.6 per cent in 2022. At the same time, 2020 year to date inflation rate is -0.98% and year over year inflation rate is -0.98%. That is 0.30 less than it was in October 2020 and 0.59 less than in November 2019. The CPI inflation rates in the table are presented both on a monthly basis (compared to the month before) as well as on a yearly basis (compared to the same month the year before). 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. Consumer Prices. Vietnam’s economic growth is also the world’s top highest amidst COVID-19. Vietnam gdp for 2018 … The government targets annual GDP growth of 7 percent from 2021 to 2025 to make up for the slowdown caused by the Covid-19 pandemic. Core inflation in December 2020 increased by 0.07% over the previous month and increased by 0.99% over the last year. Vietnam: Inflation comes in at highest level since September 2020 in May May 29, 2021 Consumer prices rose 0.16% over the previous month in May, swinging from April's 0.04% drop. Core inflation rose 2.31% year-on-year in 2020. 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). CPI growth rate in December over the same period last year during 2016-2020… World Economic Outlook. 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. Inflation surged to 5.2% y-o-y in December 2019, from 3.5% y-o-y in November 2019 and 2.2% y-o-y in October 2019, on the back of surging food inflation (40% of the inflation basket). Region. This is lower than the long term average of 44.42%. 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. Exports climbed 2.5% in August compared to a year ago, with shipments to the U.S. rising 19% in the first eight months of 2020. In January, the NCIF forecast that Vietnam’s 2020 inflation rate will be about 3.2 per cent. "Vietnam Inflation Rate." By David Milliken and William Schomberg LONDON (Reuters) -The Bank of England could stop its government bond purchases early due to an unexpectedly sharp rise in inflation, interest rate … Vietnam Inflation Rate Outlook, Average Consumer Prices is at 4.00%, compared to 4.00% last year. Though Viet Nam inflation rate fluctuated substantially in recent years, it tended to decrease through 2001 - 2020 period ending at 3.2 % in 2020. 1.75 %: 2015 - 2021: General Statistics Office of Vietnam: Vietnam Core Inflation Rate History. “The Group’s average weekly private sales rate per site for the first half was over 30pc ahead of 2020, the increase reflecting the unprecedented site shutdowns in 2020 due to the pandemic, but was also c. 20pc ahead of 2019.” Dean Finch, chief executive, added: During the observation period from 1996 to 2020, the average inflation rate was 6.3% per year. Vietnam gdp for 2019 was $261.92B, a 6.81% increase from 2018. 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.. In November 2018, South Sudan’s inflation rate was 49%. Vietnam Inflation Rate History. In Vietnam, interest rates decisions are taken by The State Bank of Vietnam. Imports rose 2.8% in … “However, we will have to revise this because everything has changed due to COVID-19. In 2020, inflation rate for Viet Nam was 3.2 %. Vietnam inflation rate likely to drop below 4% in H2/2020 Vietnam's headline inflation averaged 5.6% year-on-year in the first quarter, but has been gradually decreasing since last December. On August 27, 2020, the FOMC announced it will allow a target inflation rate of more than 2% if that will help ensure maximum employment. Vietnam’s inflation rate is forecast to be 3.2 percent, lower than the 4 percent target set for the year, the report said. In 2020, inflation rate for Viet Nam was 3.2 %. Category. Vietnam: Inflation rate (compared to the previous year) 2.8%. NDO - Vietnam’s consumer price index (CPI) in 2020 rose 3.23% against the previous year, which is below the target of 4% set by the National Assembly, … A Look at the Markets. License : CC BY-4.0. For 2020, an inflation rate of 3.2% was calculated. Overview. Line Bar Map. FIGURE 2 Vietnam / Actual and projected poverty rates and real GDP per capita Sources: World Bank. A low base effect would contribute a further to 6.5% growth next year. 2000 - 2021. Notes: see Table 2. 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 2020, Vietnam's consumer price index (CPI), a gauge of inflation, rose 3.2% against the previous year, which was below the target of 4.0% set by the government. Similar values. Vietnam is trying to get a grip on inflation that might otherwise threaten its quick economic growth again as it did a decade ago, analysts and domestic media say. While there are several upside risks, moderating food prices should keep Vietnam’s inflation under control. While there are several upside risks, moderating food prices should keep Vietnam’s inflation under control. The State Bank of Vietnam has a target of keeping inflation at no more than 4 percent this year, and so it is likely to maintain a steady monetary policy through 2021, it predicted. Customers shopping at Big C … Vietnam. While there are several upside risks, moderating food prices should keep Vietnam’s inflation under control. Unemployment rate in Vietnam 2020. A lot of pressure for inflation control in 2020 - Economy - Vietnam News | Politics, Business, Economy, Society, Life, Sports - VietNam News The fluctuating price of pork last year had significant impacts on the market, as the price plummeted in the first half of the year then soared in the second half. Sunday, June 13 2021 News bizhub.vn A lot of pressure for inflation control in 2020. The official interest rate is the Refinancing Rate. Vietnam is likely the top-performing Asian economy in 2020 — a feat that was achieved without a single quarter of economic contraction. Facts and statistics about the Inflation rate (consumer prices) of Vietnam. 0.49 %. Inflation Rate in Vietnam increased by 0.17 % in June 2021 over the previous month. Vietnam. Table 1 2020 Population, million 97.3 GDP, current US$ billion 271 .9 GDP per capita, current US$ 2793.6 International poverty rate ($1.9) a 1 .8 Lower middle-income poverty rate ($3.2) a 6.6 Label. Consumer Prices. License : CC BY-4.0. In the first scenario, the average CPI in 2020 is predicted to go up 3.64% year-on-year, and in the second one, the rate would be 3.95%. In 2020, the consumer price index (CPI) for all items in Vietnam was at 168.78 points, with 2010 as the base year (2010=100). In 2018, the average inflation rate in Vietnam amounted to 3.54 percent compared to the previous year. 2.8. Inflation, consumer prices (annual %) International Monetary Fund, International Financial Statistics and data files. Vietnam's consumer price index (CPI), the main gauge of inflation, expanded at 3.23% year-on-year, lower than the year’s projection of 4% by the National Assembly, according to the General Statistics Office (GSO). "We expect the central bank to keep its refinancing rate unchanged at 4 percent." Local economists Font Size: | NDO - Vietnam’s consumer price index (CPI) in 2020 rose 3.23% against the previous year, which is below the target of 4% set by the National Assembly, according data released by the General Statistics Office (GSO). 4 %. This is lower than the long term average of 44.42%. 7.01 %. Vietnam inflation rate likely to drop below 4% in H2/2020 Vietnam's headline inflation averaged 5.6% year-on-year in the first quarter, but has been gradually decreasing since last December. Inflation Indonesia 2020 (CPI) - The inflation chart and table below feature an overview of the Indonesian inflation in 2020: CPI Indonesia 2020. South Sudan. The CPI saw an increase of 0.1% in December against the previous month. November 30, 2020. After recording its slowest pace in more than three year last month, Vietnam’s inflation is forecast to hit only 2.7 percent in 2019 after standing at 3.5 percent last year. 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. The State Bank of Vietnam. Though Viet Nam inflation rate fluctuated substantially in recent years, it tended to decrease through 2001 - 2020 period ending at 3.2 % in 2020. Vietnam. In 2020 Japan ranks #1 in the world by yearly inflation rate. Report. In terms of salary increase by industry, insurance, high-tech and life sciences, less impacted than most other industries, topped with 8,7 per cent, 8,5 per cent and 8,4 per cent hikes. In addition, with a GDP growth rate of 2.91%, Vietnam’s economic growth is considered among world’s highest in 2020. Vietnam inflation cools in November to slowest this year while exports rose in November even as the coronavirus pandemic continues to hinder trade activity, according to the General Statistics Office in Hanoi. Table 1 2020 Population, million 97.3 GDP, current US$ billion 271 .9 GDP per capita, current US$ 2793.6 International poverty rate ($1.9) a 1 .8 Lower middle-income poverty rate ($3.2) a 6.6 HSBC analysts made the forecast in the ‘Vietnam at a glance’ report released this week. If the pandemic continues and the world economy recovers slowly, Vietnam’s economy would increase at 6.8 to seven per cent, the inflation rate for the whole year would be around 3.3 to 3.5 per cent; and if the economy grew at between seven and 7.4 per cent, the inflation rate … Vietnam’s minimum wage hike of 5.7 is higher than last year’s hike of 5.3 percent but lower than in 2018 and 2017. Historical Data (%) by years. 4 %. economic impact of COVID-19 on Vietnam’s economy in 2020 continues to be underestimated: 3 • In February, we published a below-consensus forecast that Vietnam’s GDP growth would fall from 7% in 2019 to 5% in 2020, with the proviso that there was still downside risk to that forecast. Expectations in 2020. 11 hours ago. It still seeks a 2% inflation over time but is willing to allow higher rates if inflation has been low for a while. Vietnam Inflation Rate was 0.19 % in 2021. Statistics on Consumer Price Index (CPI), food inflation and Harmonised Consumer Prices. Historical data on core CPI in Vietnam. Line Bar Map. 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 addition, with a GDP growth rate of 2.91%, Vietnam’s economic growth is considered among world’s highest in 2020. Vietnam is a member of Asia-Pacific Economic Cooperation, Association of Southeast Asian Nations and the World Trade Organization. Vietnam’s economy with high level of openness could be susceptible to rising inflation as a result of growing global commodity prices. The government targets annual GDP growth of 7 percent from 2021 to 2025 to make … Line Bar Map. Even if this scenario occurs, the inflation rate in 2019 will still be lower than the 3.54 percent in 2018. Vietnam's inflation in 2020 remains under control. While higher than the inflation rate, the increases were the lowest in the last 10 years, she said. “This is the lowest GDP growth level in the 2011-2020 period. Region. Inflation rate to be kept at between 3.59 – 3.91 percent in 2020 Wednesday, December 25, 2019 19:06 Minister: government asks ministries, agencies to fulfill targets The State Bank of Vietnam. Basic Info. Inflation Rate, Asian Development Outlook Supplement 2020 - June 2020 (CSV) *2020-2021 are forecasts. Vietnam recorded decade-low GDP growth of 1.8% in the first half of this year, and expansion is forecast at … Sources: World Bank. One U.S. dollar was equal to roughly 23,171 VND in November 2020, based on the average exchange rate. Assuming other factors affecting inflation such as oil prices, exchange rates, medical services and education did not change significantly, Độ predicted that inflation would increase by 3.5 per cent on average this year. World Bank national accounts data, and OECD National Accounts data files. The official interest rate is the Refinancing Rate. NDO - Vietnam’s consumer price index (CPI) in 2020 rose 3.23% against the previous year, which is below the target of 4% set by the National Assembly, … Consumer price index (2010 = 100) Data published Monthly by General Statistics Office. Ngoc Thuy. Sep 2020. By April 2019, inflation slowed to 40% thanks to an increase in oil output. “Inflationary pressures are projected to increase temporarily, reflecting uncertain prices of food and fuel, and possible trade disruptions,” a World Bank expert told VIR. 5. A Look at the Markets. Notes: see Table 2. For 2022, the panel projects inflation to average 3.7%. 7.01 %. 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. Vietnam’s economic growth is also the world’s top highest amidst COVID-19. Assuming other factors affecting inflation such as oil prices, exchange rates, medical services and education did not change significantly, Độ predicted that inflation would increase by 3.5 per cent on average this year. Basic Info. Vietnam recorded decade-low GDP growth of 1.8% in the first half of this year, and expansion is forecast at … 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 Inflation, GDP deflator (annual %) - Vietnam. Canada's inflation rate increased to 3.6 per cent in May, the fastest pace in a decade, Statistics Canada says. CPI growth rate in December over the same period last year during 2016-2020… - 4.1%. In Vietnam, interest rates decisions are taken by The State Bank of Vietnam. Our new inflation forecast for 2020 may be at least 4 per cent,” Anh said.
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