HCMC – Vietnam’s consumer price index (CPI) picked up 3.48% in the third quarter of the year over the same period last year, showed data from the General Statistics Office.
In the first nine months of 2024, the CPI edged up by 3.88% year-on-year, while core inflation, which excludes items whose prices are highly volatile such as food and energy, grew by 2.69%.
In September, the CPI climbed 0.29% from the previous month, primarily driven by higher food prices in areas impacted by typhoon Yagi, increased housing rents, and rising education fees. Compared to September 2023, the CPI was up 2.63%.
Core inflation in September jumped by 2.54% year-on-year, while in the first nine months, it was up 2.69%. This remained below the overall CPI increase of 3.88%.
Key contributors to CPI growth included food, utilities, education, healthcare services, and fuel, which are excluded from core inflation calculations. Among the 11 main groups of goods and services factored into the CPI in September, transport and culture-entertainment-tourism prices were the only categories to decline, dropping by 2.77% and 0.24%, respectively. Education costs rose by 2.09%, while food and beverage prices were up by 0.92%.
In January-September, food and beverage prices saw a 4% increase, with the price of foodstuffs jumping by 14.23%. On the other hand, telecommunication prices fell by 1.19% during the same period.
