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October CPI up 4.09% year-on-year

01/11/2016

Vietnam’s consumer price index (CPI) rose 0.83% in October from last month and posted a year-on-year increase of 4.9%, according to the General Statistics Office (GSO).

 

 

Source: the General Statistics Office (GSO)

The GSO reported that CPI in October went up 4% against that of December, 2015. In the first ten months, the inflation rate also picked up 2.27% on average in comparison with the same period last year.

Sharp increase in healthcare service costs

Nine out of 11 groups of goods and services experienced rising prices. Especially, prices of drugs and healthcare services witnessed the sharpest increase of 10.07%. Transport costs increased by 2.02%. Household utensils and equipment saw the lowest price growth by 0.04%.

On the other hand, two groups witnessed declining costs, including culture, entertainment, and tourism (down 0.02%) and telecom and post (down 0.12%).

Deputy Director of the GSO's Price Statistics Department Do Thi Ngoc attributed the October CPI rise to the price hike in food (up 0.26%) in wedding season and flood consequences.

In addition, medical cost adjustment boosted CPI to go up around 0.5%. Higher petrol prices which were raised on October 5 and 20 also made fuel cost pick up 4.14%.

In October, domestic gold price dropped 1.69% and USD price surged 0.07%.

VGP | October 29, 2016 09:28 AM

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