Vietnam’s October CPI up 0.11 percent

Vietnam’s consumer price index (CPI) in October inched up 0.11 percent from the previous month, the same increase from last year’s corresponding period, announced the General Statistics Office (GSO) on October 24.

The figure pushed the 10-month CPI to 0.67 percent on an annual basis.

Of 11 goods and services categories, seven posted moderate price increases, including food and restaurant services (0.19 percent); beverages and cigarettes (0.11 percent); garment, headwear and footwear (0.2 percent); household appliances (0.12 percent); medicines and medical services (0.01 percent); education (0.05 percent); other goods and services (0.1 percent).

Falling prices were recorded in post and telecommunications (0.03 percent), housing and construction materials (0.01 percent), transport (0.05 percent), culture-entertainment-tourism (0.06 percent).

The October CPI growth is put down to stronger demand for food during the wedding season, falling supply of vegetables due to the rain earlier this month, needs for fall-winter apparel and footwear, and higher water costs in Hanoi and the northern provinces of Lao Cai and Nam Dinh, said Deputy Director of the GSO’s Price Statistics Department Do Thi Ngoc.

Drops in prices of rice, construction materials and steel also curbed the index.

Transport costs went down 1.76 percent on lower fuel prices.

The prices of gold and US dollar slightly declined in the months to hover at 34 million VND per tael and 22,457 VND per USD, respectively.

Also according to the GSO, the core October inflation, which excludes the costs of fresh food, energy, health and education services, picked up 0.06 percent month-on-month and 1.82 percent year-on-year.

The 10-month core inflation hiked 2.12 percent compared to the same period last year.

Ngoc forecast that the November CPI will move up slightly, with prices in almost categories remain stable.-VNA