Markets & Prices
Last updated: Thursday, March 23, 2017
Education Costs Push September CPI up 0.54 PctPosted: Friday, September 30, 2016
The Consumer Price Index (CPI) in September increased 0.54 per cent from the previous month and rose 2.07 per cent over a year earlier, reported the General Statistics Office (GSO).
From start of the year, September was among the months seeing prices rise over 0.5 per cent. 10 out of 11 commodity groups saw CPI rise this month. Only post and telecommunications enjoyed price reduction at 0.07 per cent.
The main reasons for the increase came from administrative decisions, especially those on education. This group saw the biggest price rise among the 11 commodities and services groups for CPI calculation.
Following the Government’s Decree on tuition fees adjustment, the price index of the education group soared 7.19 per cent against August, contributing 0.43 per cent to the overall CPI rise.
In addition, this month’s fuel price adjustment led to the 0.55 per cent increase in transportation costs, contributing 0.05 per cent to the total CPI rise.
The country’s winning a contract of shipping 150,000 tonnes of rice to the Philippines in the end of August made prices of domestic rice recover after three months of consecutive reduction.
Heavy rain this month pushed up fresh vegetable prices from 10-15 per cent due to limited supply, making price index of food products soar 0.1 per cent month on month.