Business

CPI in October creeps up 0.09 percent

The consumer price index (CPI) inched up 0.09 percent in October against the previous month, and 2.47 percent year-on-year, according to the General Statistics Office of Vietnam (GSO).
CPI in October creeps up 0.09 percent ảnh 1Illustrative image (Photo: VNA)

Hanoi (VNA) – The consumer price index (CPI)inched up 0.09 percent in October against the previous month, and 2.47 percentyear-on-year, according to the General Statistics Office of Vietnam (GSO).

Among 11 groups of products and services in the CPI basket, a decline wasrecorded in the groups of restaurant and catering service (0.13 percent);transportation (0.08 percent); post and telecommunication service (0.03percent); culture, entertainment and tourism (0.18 percent).

Meanwhile, six groups seeing higher prices were education service (1.52percent); houses and building materials (0.29 percent); property maintenancematerials and services (0.29 percent); beverage and tobacco (0.08 percent);garment, hat and footwear (0.06 percent); and other goods and services (0.09percent).

Head of the GSO’s Price Statistics Department Do Thi Ngoc said the rise inOctober’s CPI was fueled by a surge in tuition fee for the 2020-2021 academicyear in nine centrally-run cities and provinces, high prices of vegetables dueto impacts of the sixth and seventh storms, and increase in gas prices to keepup with swings in the global market.
Meanwhile, there were some factors helping curb the CPIdowntrend, including a decline in fork prices (2.84 percent) and petro prices(0.81 percent).

In October, gold prices moved in tandem with global gold prices, whichunderwent erratic fluctuation on the threshold of the US President Election andthe complicated developments of the COVID-19 pandemic.

The VND/USD exchange rate rose 0.07 percent, with one USD exchanged for 23,275VND.

According to the GSO, core inflation (CPIexcluding food items, energy products and commodities underthe State management like medical and educationalservices) fell from 3.25 percent in January to 1.88 percent in October.

The country’s CPI went up 3.71 percent during January-October, with CPI inurban areas surging 3.29 percent, and that in rural localities increasing 4.13percent against the same time last year. Core inflation rate grew 2.52 percentyear-on-year./.
VNA
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