Vietnam’s consumer price index up 0.33% in October

Ten of the 11 groups of goods and services used to calculate the CPI went up against the previous month. (Photo: VnEconomy)

The average CPI in the first ten months of 2018 increased by 3.6% compared with the same period last year, the GSO stated in a report released on October 29.

Ten of the 11 groups of goods and services used to calculate the CPI went up against the previous month, with transport costs making the largest gain at 1.55%, followed by utility services and building materials at 0.58%, and food and dining services at 0.22%.

According to the head of the GSO’s price statistics department, Do Thi Ngoc, one of the main reasons driving up the CPI in October was higher pork prices due to supply shortages.

The CPI was also increased by two rounds of fuel price rises in October, as well as higher cooking gas prices and tuition fees.

In October, domestic gold prices rose 0.12% in comparison to a month earlier, averaging at VND3,660,000 per tael, while the US dollar-Vietnamese dong exchange rates also rose slightly following the rate hike by the US Federal Reserve in September.

According to the GSO, the core CPI in October increased 0.13% against the previous month and 1.67% compared with October last year.

Source: NDO