In 2023, the average inflation rate in Vietnam amounted to 3.25 percent compared to the previous year. After a severe drop below one percent in 2015, Vietnam’s inflation seems to have stabilized again and is expected to level off at around 3.4 percent in the next few years.

Vietnam’s economic struggles

Around 2012, Vietnam suffered the consequences of the global economic crisis and domestic economic mismanagement, which saw enterprises going bankrupt, inflation peaking at over nine percent, and gross domestic product slumping to a dramatic low. Fortunately, the country recovered quickly and seemed out of the red and on a stable path by 2016.

Rich in rice

Vietnam’s economy is largely rooted in services and industry, but around 16 percent of it is generated by agriculture, mainly rice cultivation. Almost half of the Vietnamese workforce is active in this sector. Vietnam is, in fact, one of the largest exporters of rice in the world, but also one of the main consumers. Paddy production in Vietnam has decreased a bit in the last few years, but overall, the country’s economy is perceived to improving.

Core consumer prices in Vietnam increased 2.87 percent in February of 2025 over the same month in the previous year. This dataset provides - Vietnam Core Inflation Rate- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The United States economy began to experience a period of higher inflation at the end of the 1960s. This trend marked the end of what was termed the 'Golden Era of Capitalism', a period following World War II in which the United States experienced historically unprecedented annual growth rates, along with low inflation and unemployment. While the causes of this inflation are debated, expansionary fiscal policy related to the Vietnam War at a time of full employment in the early 1960s likely contributed to rising price levels. Taxes were not raised to compensate for the increased costs of the war until 1968, at which point inflation had already climbed to 3.6 percent. On the other hand, military spending was small compared to overall U.S. GDP during this period, reaching a peak of 9.8% in 1968, indicating that military spending alone cannot explain the rising inflation rate. The sharp uptick after 1973 came as a result of the 1973 Arab-Israeli War in the Middle East, where Arab countries implemented an oil embargo against the United States for its support of Israel, and the price of oil rose exponentially.

Vietnam VN: Inflation:(GDP) Gross Domestic ProductDeflator: Linked Series data was reported at 4.125 % in 2017. This records an increase from the previous number of 1.111 % for 2016. Vietnam VN: Inflation:(GDP) Gross Domestic ProductDeflator: Linked Series data is updated yearly, averaging 8.633 % from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 72.546 % in 1991 and a record low of -0.191 % in 2015. Vietnam VN: Inflation:(GDP) Gross Domestic ProductDeflator: Linked Series data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Vietnam – Table VN.World Bank.WDI: Inflation. Inflation as measured by the annual growth rate of the GDP implicit deflator shows the rate of price change in the economy as a whole. This series has been linked to produce a consistent time series to counteract breaks in series over time due to changes in base years, source data and methodologies. Thus, it may not be comparable with other national accounts series in the database for historical years.; ; World Bank staff estimates based on World Bank national accounts data archives, OECD National Accounts, and the IMF WEO database.; ;

Inflation, GDP deflator: linked series (annual %) in Vietnam was reported at 1.9062 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. Vietnam - Inflation, GDP deflator: linked series (annual %) - actual values, historical data, forecasts and projections were sourced from the World Bank on March of 2025.

Core Inflation Rate MoM in Vietnam decreased to 0.30 percent in February from 0.42 percent in January of 2025. This dataset includes a chart with historical data for Vietnam Core Inflation Rate MoM.

Cost of food in Vietnam increased 3.10 percent in February of 2025 over the same month in the previous year. This dataset provides the latest reported value for - Vietnam Food Inflation - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

According to a Rakuten Insight survey conducted in March 2023, around 58 percent of respondents in Vietnam indicated that they checked prices before buying due to rising costs. Moreover, around 40 percent had reduced their spending on non-essential items in response to inflation.

Key information about Vietnam Core CPI Change

• Vietnam Core CPI Change was reported at 2.872 % in Feb 2025.
• This records a decrease from the previous number of 3.069 % for Jan 2025.
• Vietnam Core CPI Change data is updated monthly, averaging 1.880 % from Jan 2015 to Feb 2025, with 122 observations.
• The data reached an all-time high of 5.205 % in Jan 2023 and a record low of 0.492 % in Jan 2021.
• Vietnam Core CPI Change data remains active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Core CPI: Y-o-Y Growth: Monthly.

CEIC extends history for monthly Core Consumer Price Index Growth. General Statistics Office provides Core Consumer Price Index Growth with base 2019=100. Core Consumer Price Index excludes goods produced by households for their own consumption, imputed rent for owner-occupied dwellings and financial services. Core Consumer Price Index Growth prior to August 2020 is with base 2014=100 and prior to April 2015 is with base 2009=100.

According to a Rakuten Insight survey conducted in March 2023, more than 50 percent of respondents across all age groups in Vietnam indicated that they reduced recreational activities such as dining out, going to bars, cinema, etc. to cope with rising prices. The same survey also revealed that 59 percent of respondents were spending more cautiously in response to inflation.

Vietnam Core Inflation: YoY: YTD data was reported at 2.660 % in Aug 2020. Vietnam Core Inflation: YoY: YTD data is updated monthly, averaging 2.660 % from Aug 2020 (Median) to Aug 2020, with 1 observations. Vietnam Core Inflation: YoY: YTD data remains active status in CEIC and is reported by General Statistics Office. The data is categorized under Global Database’s Vietnam – Table VN.I002: Core Inflation 2019=100.

Inflationsraten i Vietnam steg til 3,63 procent i januar fra 2,94 procent i december 2024. Aktuelle værdier, historiske data, prognoser, statistik, diagrammer og økonomisk kalender - Vietnam - Inflation-Rate.

According to a recent survey conducted in Vietnam, as of January 2023, over 53 percent of respondents reported that inflation had a negative impact on them to some degree. In contrast, around nine percent of respondents said inflation did not have a negative effect on them.

Vietnam Core Inflation: MoM data was reported at -0.010 % in Aug 2020. Vietnam Core Inflation: MoM data is updated monthly, averaging -0.010 % from Aug 2020 (Median) to Aug 2020, with 1 observations. Vietnam Core Inflation: MoM data remains active status in CEIC and is reported by General Statistics Office. The data is categorized under Global Database’s Vietnam – Table VN.I002: Core Inflation 2019=100.

Key information about Vietnam Consumer Price Index CPI growth

• Vietnam Consumer Price Index (CPI) growth was measured at 2.9 % YoY in Feb 2025, compared with a rate of 3.6 % in the previous month.
• Vietnam Consumer Price Index growth data is updated monthly, available from Jan 1996 to Feb 2025, with an averaged number of 4.2 % YoY.
• The data reached an all-time high of 28.3 % YoY in Aug 2008 and a record low of -2.6 % YoY in Jul 2000.

CEIC extends history for monthly Consumer Price Index Growth. General Statistics Office provides Consumer Price Index Growth with base 2019=100. Consumer Price Index Growth prior to August 2020 is with base 2014=100. Consumer Price Index Growth prior to January 2016 is with base 2009=100. Consumer Price Index Growth prior to November 2009 is with base 2005=100.

Inflation rates in the Association of Southeast Asian Nations (ASEAN) ranged from 31 percent inflation in Laos to 0.37 percent inflation in Brunei Darussalam. While countries like Vietnam are likely benefitting from more stable inflation than earlier seen, only a few countries are in the 2 to 6 percent range that many economists view as optimal for emerging economies. Effects of high inflation High inflation is generally detrimental to the economy. Prices tend to rise faster than wages, meaning that people and firms have less purchasing power. This in turn leads to slower growth in the gross domestic product (GDP). It also leads to a weaker currency. For countries with a positive trade balance this can be beneficial, because exports are relatively cheaper to foreign buyers. Through the same mechanism, net importers suffer from a weaker currency. Additionally, inflation makes a country’s national debt less expensive if the debt is denominated in the local currency. However, most of this debt is in U.S. dollars, so inflation makes the debt more difficult to service and repay. Risks of deflation With deflation, consumers and firms delay investments because they expect prices to be lower in the future. This slows consumption and investment, two major components of GDP growth. The most common example of this is Japan, where the GDP growth rate has been low for a long time due, in large part, to deflation. For this reason, countries like Brunei would rather see low and stable inflation than slight deflation.

According to a Rakuten Insight survey conducted in March 2023, around 63 percent of respondents in Vietnam indicated that they had cut back on leisure activities, such as dining out, going to bars, cinema, etc. to cope with inflation. Moreover, 47 percent of survey participants chose to purchase cheaper groceries, while 45 percent opted to shop at discount stores.

The data set offers SJC, 9999 gold prices in Vietnam from 2007 to 2022

In 2023, the consumer price index (CPI) for medicine and healthcare services in Vietnam was estimated at 101.23 index points, indicating an increase from the previous year. During that year, the country's overall CPI was at 103.25 index points.

L'indice dei prezzi al consumo in Vietnam è aumentato dello 0,98 percento a gennaio 2025 rispetto al mese precedente. Valori correnti, dati storici, previsioni, statistiche, grafici e calendario economico - Vietnam - Tasso di inflazione (Mensile).