Mathematical Development and Evaluation of Forecasting Models for Accuracy of Inflation in Developing Countries: A Case of Vietnam

Table 8

Evaluating models with CPI forecasting errors.

Models	ARIMA	GM(1,1)	VERHULST	DGM(1,1)	DGM(2,1)
MAPE	6.94%	5.50%	6.25%	5.50%	29.20%
MSE	0.379	0.219	0.286	0.220	57.466
RMSE	0.616	0.468	0.535	0.469	7.581
MAD	0.440	0.358	0.393	0.358	4.636
Evaluation	Good	Excellent	Good	Excellent	Poor