CPI slightly goes up in October

consumer price index, CPI, inflation, economic growth
Accordingly, the increase of 0.09 percent in the CPI was mainly because of an increase in educational service prices following the roadmap and the impacts of storms and floods in the central provinces. The 10-month CPI rose by 3.71 percent over the same period last year.

In the increase of 0.09 percent of the CPI in October, six out of 11 groups of commodities and services posted increases in the price index. Of these, the education group climbed the most with 1.35 percent. Education services alone surged 1.52 percent, making the overall CPI increase by 0.08 percent because nine provinces and municipalities carried out the roadmap to increase tuition fees for the new school year of 2020 and 2021 in the month.

Housing and construction materials edged up by 0.29 percent, mainly due to an increase of 1.77 percent in gas prices, making general CPI increase 0.03 percent; prices of materials and maintenance and housing repair services rose 0.15 percent and 0.2 percent, respectively. Groups of commodities and services with lower price index include culture, entertainment, and tourism with a decrease of 0.18 percent, restaurants and catering service with a decrease of 0.13 percent (of which, food mounted by 0.16 percent, and foodstuffs dropped 0.28 percent), and traffic with a decrease of 0.08 percent. Household appliances and utensils alone remained unchanged.

Thus, the CPI in October increased by 0.09 percent compared to December last year and 2.47 percent over the same period. The average CPI in the first ten months of this year jumped by 3.71 percent compared to the same period in 2019.

By Anh Phuong – Translated by Bao Nghi

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