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Vietnam CPI Tracker: 4.34 percent in June [data set]

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Vietnam’s Consumer Price Index fell in June to 4.34 percent, a decline of .1 percent over May. It is still, however, high in the context of an inflation target for the year of between 4 and 4.5 percent. The biggest gains were in food, medical services, and educational services; with only post and telecommunications recording a decline.

Vietnam CPI data,  June 2024

JuneMayMay vs JuneJan-Jun 2024 vs 2023Vs Baseline 2019
Overall CPI4.344.440.174.0815.39
Food and food services4.664.470.754.0020.58
– Food Group One (rice)14.7814.830.0515.7632.17
– Food3.232.871.072.0517.23
– Eating outside the family4.
Drinks and tobacco2.632.610.172.4712.97
Garments, hats, shoes1.481.70(0.11)1.607.62
Housing and construction materials (*)5.605.300.355.5119.77
Household equipment and appliances1.231.330.091.267.79
Medicines and medical services8.047.410.607.0711.66
– Medical services10.289.460.768.9713.10
– Traffic3.035.58(2.27)3.2710.11
Post and Telecommunication(1.18)(1.42)0.02(1.41)(4.05)
– Educational services8.558.660.009.1520.43
Culture, entertainment and tourism2.352.010.681.726.84
Other goods and services5.976.190.056.1617.42

* Includes housing rent, electricity, water, fuel and construction materials.

Source: General Office of Statistics


Consumer prices are rising in Vietnam with the consumer price index reaching 4.44 percent in May compared to May of last year, according to data from Vietnam’s General Office of Statistics–the GSO. The GSO has attributed the price increase to an increase in pork prices on the back of limited supply due to African Swine Fever, and increased electricity prices on the back of warmer weather.

Of note, inflation has been relatively low in Vietnam compared to other parts of the world but this is largely due to government price controls. These lower prices, however, have come at a cost. Input prices, have risen for a lot of firms, however, many have been unable to raise their retail prices to compensate. As a result, many have seen their profit margins squeezed while others have had to run at a loss.

As is often the case in Vietnam, targets set under one set of economic conditions  have not been adjusted for current economic conditions.

Vietnam CPI data,  May 2024

Baseline 2019 Vs May 2024May 2023 vs May 2024December 2023 vs May 2024April 2024 vs May 2024Jan-May 2024 vs Jan-May 2024
Overall CPI15.204.441.240.054.03
Food and food services19.694.471.420.383.87
– Food Group One (rice)32.1014.832.17(0.26)15.96
– Food15.992.871.090.591.81
– Eating outside the family24.024.251.890.144.14
Drinks and tobacco12.782.611.340.142.44
Garments, hats, shoes7.741.700.450.001.63
Housing and construction materials (*)19.355.301.890.385.49
Household equipment and appliances7.691.330.630.121.27
Medicines and medical services10.997.412.000.016.87
– Medical services12.259.462.510.008.71
Post and Telecommunication(4.07)(1.42)(0.49)(0.09)(1.46)
– Educational services20.438.66(4.54)(0.30)9.28
Culture, entertainment and tourism6.
Other goods and services17.376.191.720.206.20

Source: General Office of Statistics

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