Vietnam’s CPI Up 0.09% in October, Lowest in Five Years

11:28:05 AM | 30/10/2020

The consumer price index (CPI) in October rose by a slight 0.09% against the previous month, mainly due to higher education costs and the impact of the flooding in central Vietnam, according to the General Statistics Office.

However, the figure was still the lowest monthly increase during the 2016-2020 period as several products and services recorded decreases during the month.

On average the CPI for the first ten months of 2020 rose by 3.71% compared with the same period last year.

Education prices registered the largest increase in October at 1.35% as nine provinces and cities hiked their tuition fees for the 2020-2021 school year, while utilities and building materials rose by 0.29%.

Drinks and tobacco climbed 0.08% while clothes and footwear went up 0.06% as demand rose with lower temperatures.

The coronavirus continued to exert its impact on entertainment and tourism services, which recorded a decrease of 0.18% in October.

Transport fell 0.08% thanks to a fuel price cut in late September as well as discounted bus and train ticket prices designed to stimulate demand.

The prices of household appliances remained unchanged during the month.

In October domestic gold prices declined by 1.1% in line with global prices, which fell 1.05% from the previous month, while the US dollar index in October rose 0.07% from a month earlier.

Source: NDO