Hanoi (VNA) – Vietnam's Consumer Price Index (CPI) in October increased by 0.33% compared to the previous month and by 2.89% year-on-year, according to the General Statistics Office (GSO).
Ten of the 11 groups of goods and services saw price increases and one group decreased in price, it said.
The CPI growth was driven primarily by higher prices for food, rental housing, and domestic fuel which fluctuated in line with global market trends.
The GSO noted that transportation showed the largest increase among sectors, rising by 0.66%, largely due to a 2.27% increase in diesel prices and a 0.98% rise in domestic petrol prices following multiple price adjustments in October. Additionally, air passenger transport costs surged by 32.75% due to increased consumer demand.
Meanwhile, some items saw price reductions, with new car prices and road passenger transport both decreasing by 0.1%, and used car prices dropping by 0.23%.
In the education sector, prices rose by 0.48%, including a 0.53% increase in educational services due to higher tuition fees at some private kindergartens, colleges, vocational and intermediate schools, universities, and postgraduate institutions.
Other groups also saw price increases, including goods and services (up 0.26%), beverages and tobacco (up 0.11%), and household appliances (up 0.2%).
The CPI rose by 3.78% year-on-year in the first ten months of the year while core inflation was up 2.69% year-on-year. This was primarily because key contributors to CPI growth - such as food, electricity, education and healthcare services, and gasoline - are excluded from core inflation calculations.
Core inflation in October rose by 0.23% month-on-month and by 2.68% compared to the same period last year./.
