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Saturday, July 20, 2024

CPI in August rises slightly

The Saigon Times

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HCMC – Vietnam’s consumer price index (CPI) in August has risen a fractional 0.005% month-on-month, according to data of the General Statistics of Vietnam (GSO).

Consumer prices increased due to rising input material costs. Tuition fees for the new school year in some provinces and cities rose again. However, several rounds of fuel price cuts since July have resulted in a slight increase of the CPI in August, said GSO.

The CPI this month expanded 3.6% against December last year and rose 2.89% over the same period last year.

Among the 11 groups of consumer goods and services in the basket of items used to calculate the CPI, nine registered an increase in price over the previous month.

The education group posted the highest spike, at 1.46%. Food and catering services saw an increase of 1.05%.

The prices of cultural-entertainment-tourism services, beverages and tobacco edged up 0.43% and 0.27%, respectively.

Two groups that declined in price were postal-telecommunication and transport services, at 0.01% and 5.51%, respectively.

In the first eight months of the year, the CPI expanded 2.58% compared to the same period last year. Core inflation in the year to August has spiked 1.64%.

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