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National CPI increases 0.88% in August

Vietnam's consumer price index (CPI) in August increased 0.88% month-on-month, fueled by higher prices of petroleum, rice and housing, the General Statistics Office (GSO) announced on August 29.
National CPI increases 0.88% in August ảnh 1Illustrative Image (Photo: VNA)

Hanoi (VNA) – Vietnam's consumer priceindex (CPI) in August increased 0.88% month-on-month, fueled by higher pricesof petroleum, rice and housing, the General Statistics Office (GSO)announced on August 29.

In the first eight months of 2023, the CPI expanded 3.1% over the same period last year and the core inflation rose by4.57%.

Among the 11 groups of goods and services used to calculatethe CPI, 10 saw higher prices than the previous month while only the postal and telecommunications group experienced a price drop of 0.17%.

In the eight-month period, education rose by7.28% year-on-year, contributing 0.45 percentage points to theoverall CPI increase.

Housing and construction materials hiked by 6.65% overthe same period last year, causing the overall CPI to surge by 1.25 percentagepoints. Meanwhile, the price of culture, entertainment and tourism services gained 3.18%.

Food items saw their prices climb 3.04%, mainly dueto expansion in consumer demand during holidays and Lunar New Year (Tet), which caused theoverall CPI to increase by 0.65 percentage points.

The price ofelectricity rose 3.99% and prices of other goods and services increasedby 3.98% compared to the same period last year.

Meanwhile, in the firsteight months of 2023, the price of kerosene decreased by 12.19% year-on-year; and that of domestic gasoline went down 17.56%./.

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