Data. The Asymmetric Effect of Inflation on Economic Growth in Vietnam: Evidence by Nonlinear ARDL Approach . Vietnam: Inflation drops to seven-month low in October. Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The official interest rate is the Refinancing Rate. October 29, 2021. Consumer price gains slowed for a fourth month to 1.48% year-on-year in November on declines in fuel, travel and . Inflation increased from 5.2% in December to 6.4% 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). In 2018, the average inflation rate in Vietnam amounted to 3.54 percent compared to the previous year. 1960 - 2020 None. 21,909 (2014 est.) Data published Monthly by Bureau of Trade and Economic Indices. Vietnam gdp growth rate for 2019 was 7.02%, a 0.06% decline from 2018. The inflation rate for consumer prices in Malaysia moved over the past 41 years between -1.1% and 9.7%. Share Details. Though Venezuela (Bolivarian Republic of) inflation rate fluctuated substantially in recent years, it tended to increase through 2001 - 2020 period ending at 2,355.2 % in 2020. Read more. Vietnam: Inflation drops to seven-month low in October. In 2020, inflation rate for Venezuela (Bolivarian Republic of) was 2,355.2 %. Overall, the price increase was 356.15 %. World Economic Outlook (October 2021) - Inflation rate, average consumer prices. The next inflation update is scheduled for release on December 10 at 8:30 a.m. Vietnam Inflation Cools in November to Slowest This Year. However, the inflation rate in December 2019 reached 5.23 percent compared with December 2018, and this is worrying. Vietnam's annual core inflation, which excludes volatile items, decreased to 0.74. percent in August 2021, the least in 6 months. 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. prices in Vietnam are 5.64% less than in Hanoi. License: CC BY-4.0 Line Bar Map. In 2020, inflation rate for China was 2.4 %. Vietnam has also managed to successfully propel itself to middle-income status. - World Economics Growth rate of total means of payment and CPI inflation rate of Vietnam in the period of 2005 -2017 Source: State Bank of Vietnam, General Statistics Office of Vietnam Income of the economy 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. Inflation Rate Currently selected; Weekly Money Supply; Commodity; Money Supply; Special Data Dissemination Standard; Weekly Point Of Sales Transactions; . The index measures the amount of human capital that a child born today can expect to attain by age 18, given the risks of poor health and poor . Read more. Label. An item that cost 100 Dong in 1996 was so charged 421 . This period was followed by a reduction of the inflation rate to below 20% in 1992 and close to 10% in 1995. Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. NOTE: 1) The information regarding Vietnam on this page is re-published from the 2020 World Fact Book of the United States Central Intelligence Agency and other sources. Inflation measured by consumer price index (CPI) is defined as the change in the prices of a basket of goods and services that are typically purchased by specific groups of households. No claims are made regarding the accuracy of Vietnam Economy 2020 information contained here. Description: The map displayed here shows how Inflation rate (consumer prices) varies by country. and give timely warning of the risks that affect prices and inflation rate in Vietnam. Main upward pressure came from food (1.7% vs 1.6% in September); housing (2.7% vs 2.3%), mostly due to accommodation; healthcare (1.7% vs 1.8%), led by . During the observation period from 1979 to 2020, the average inflation rate was 2.9% per year. -1.6%. The inflation rate for consumer prices in Slovakia moved over the past 28 years between -0.5% and 23.3%. Retail sales of goods and services. 19.5%. However, in Delhi, this rate was recorded at only 4.1 per cent, which is the lowest in the country. Data. Macroeconomic Determinants of Vietnam's Inflation 2000-2010: Evidence and Analysis 2 successfully keeping inflation low for at least 6 months, can the government start to rebuild the Download Historical Data. Strictly implement the Law on State Budget, Law on Fees and Taxes. Inflation rate in Vietnam 2026* Import of goods to Vietnam 2020. In 2020 Japan ranks #1 in the world by yearly inflation rate. Accordingly, the impact of the increase in the inflation rate is . Inflation is measured in terms of the annual growth rate and in index, 2015 base year with a breakdown for food, energy and total excluding food and energy. Inflation, GDP deflator (annual %) - Vietnam. ShareThis. Historical Inflation Rate by Year. The Consumer Price Index in Vietnam decreased 0.20 percent in Octber of 2021 over the previous month. 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. Core inflation in December 2020 increased by 0.07% over the previous month and increased by 0.99% over the last year. We used the rural price index to update living wage and living expenses in this report to March 2020. Vietnam: Industrial activity falls at a slower rate in October. 1993 - 2020 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 Data published Monthly by General Statistics Office. October 29, 2021 . ET. . The shade of the country corresponds to the magnitude of the indicator. Vietnam is a member of the Asia-Pacific Economic Cooperation, the Association of Southeast Asian Nations and the World Trade Organization. CPI growth rate in December over the same period last year during 2016-2020: 4.74%; 2.6%; 2.98%; 5.23%; 0.19%, respectively. Vietnam's inflation in 2021 is forecast to be higher than last year. law on the rate of smoking for 2016-2020, and on cigarette consumption and the tax revenues for 2018-2020. Inflation Rate in Vietnam is expected to be 2.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. The inflation rate for consumer prices in Thailand moved over the past 41 years between -0.9% and 19.7%. Read more. Vietnam Economic News. Overall, the price increase was 220.64 %. Vietnam inflation rate for 2020 was 3.22%, a 0.43% increase from 2019. Made-in-Vietnam solar panels . Figure 1: Vietnam's GDP growth rates and inflation rates (2008-2018) Looking ahead, Vietnam's economy is expected to continue to show fundamental strength, on the back of steady November 30, 2020. RECENT LEVEL OF INFLATION Between March 2016 and March 2020, inflation for the whole country was 15.71%. At the same time, 2020 year to date inflation rate is -0.98% and year over year inflation rate is -0.98%. 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. -28.8%. May 29, 2021. Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at . Vietnam gdp growth rate for 2020 was 2.91%, a 4.11% decline from 2019. The bounce back in price pressures was primarily driven rising house prices, as well as by a more moderate decrease in food prices. Vietnam experienced hyperinflation in the second half of the 1980s and early 1990s. For 2020, an inflation rate of 2.6% was calculated. This was the highest figure since March 2013, boosted by a faster recovery in consumption as the economy reopens further. FDI Inflow: $16.1 billion. Monthly inflation rate in Japan was -0.49% in November 2020. 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. Corrigendum, 7 April 2020: 2018 Inflation for Brunei Darussalam changed from 0.1% to 1.0% 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 addition, prices fell less . 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 . Most important import partners of Vietnam 2019 . The General Statistics Office (GSO) reported that the consumer price index (CPI) in December 2019 increased by 1.4 percent over the month before. 16/01/2020 10:54 GMT+7. Source: CIA World Factbook - Unless otherwise noted, information in this page is accurate as of December 1, 2020. During the observation period from 1979 to 2020, the average inflation rate was 3.8% per year. Data. In the long-term, the Vietnam Inflation Rate is projected to trend around 3.50 percent in 2022 and 3.00 percent in 2023, according to our econometric models. Dong, control the inflation at below 4% in the first years of the term and 3% in 2020, flexibly manage the interest rates in accordance with inflation, manage the exchange rates in accordance with the market, and raise the national foreign reserve. IndexMundi Survey. In the Financial Year 2020-21, an increase of 5 per cent was recorded in the inflation rate nationally. After a severe drop below one percent in 2015, Vietnam's inflation seems to have stabilized . Source: CIA World Factbook - Unless otherwise noted . Vietnam: Industrial activity falls at a slower rate in October. Singapore's annual inflation rate climbed to 3.2% in October 2021 from 2.5% in September, above market forecasts of 2.8%. Economics and Business Vol 7 No 2 (2020) 143-149 The rate of inflation is mainly depended on the . Consumer price index (2010 = 100) Wholesale price index (2010 = 100) Bank nonperforming loans to total gross loans (%) Account ownership at a financial institution or with a mobile-money-service provider, richest 60% (% of population ages 15+) . Inflation Rate, Asian Development Outlook Update 2020 - September 2020 (CSV) *2020-2021 are forecasts. 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: Inflation drops to seven-month low in October. Vietnam gdp growth rate for 2017 was 6.81%, a 0.6% increase from 2016. Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. During the observation period from 1996 to 2020, the average inflation rate was 6.3% per year. Unemployment rate in Vietnam 2020. October 29, 2021. Get in touch with us now. The economy of Vietnam is a mixed 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. The Laspeyres formula is generally used. 15/08/2020: 1 - 15 . "We expect the central bank to keep its refinancing rate unchanged at 4 percent." Last year inflation was 3.23 percent, well below the 4 percent limit set by the . Consumer prices declined 0.20% from the previous month in October, a softer fall than the 0.62% drop seen in September. Historical Data (%) by years. Vietnam GDP (Gross Domestic Product) was INT$798.21billion for 2020 in PPP terms. October 29, 2021. Inflation, consumer prices (annual %) International Monetary Fund, International Financial Statistics and data files. According to the General Statistics Office of Vietnam, consumer prices rose 1.23% in January over the prior month, down from December's 1.40% increase. The move came after sizable monetary easing in March and May, bringing total cuts to the refinancing rate so far this year to 200 basis points. Vietnam. In 2020, inflation rate for Viet Nam was 3.2 %. Inflation, consumer prices (annual %) - Vietnam from The World Bank: Data. Youth unemployment rate in Vietnam in 2019. According to the General Statistics Office of Vietnam (GSO), the consumer price index (CPI) in June 2021 increased by 0.19% against that of May 2021, up by 1.62% as compared to that of December 2020, and up by 2.41% in comparison with the same time of 2020; the average CPI for the first six months of 2021 was up by 1.47% as compared to that of the same period last year. Vietnam: Inflation comes in at highest level since September 2020 in May. 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. Overall, the price increase was 2,376.40 %. The inflation rate for consumer prices in the Philippines moved over the past 41 years between 0.7% and 50.3%. A lot of pressure for inflation control in 2020. Same region. of inflation in Vietnam before and after 1995. October 29, 2021 . May 13, 2020. Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a . Update: January, 13/2020 - 07:45 | . This page provides - Vietnam Core Inflation Rate- actual values, historical . Core Inflation Rate in Vietnam increased by 1.14 % in June 2021. This page provides the latest reported value for - Vietnam Inflation Rate MoM - plus previous releases . Sep 2020. License : CC BY-4.0. The average inflation rate in 2019 was low at 2.79 percent. Interactive chart showing the annual rate of inflation in the United States as measured by the Consumer Price Index back to 1914. For 2020, an inflation rate of 1.9% was calculated. Inflation Rate in Thailand increased by 1.25 % in June 2021 over the same month in the previous year.
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