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VietNamNews

CPI rise is lowest in 6 years

Update: September, 26/2014 - 08:15

Customers buy fruits at Co.opMart supermarket in Ha Noi. Viet Nam's consumer price index in September increased by 0.4 per cent month-on-month and by 3.62 per cent year-on-year for its lowest increase in six years. — VNA/VNS Photo Huy Hung

HA NOI (VNS) — Viet Nam's consumer price index (CPI) in September increased by 0.4 per cent month-on-month and by 3.62 per cent year-on-year for its lowest increase in six years.

Nguyen Duc Thang, director of the General Statistics Office (GSO)'s CPI Department, also revealed that the country would meet the target of curbing inflation of more than five per cent this year.

Thang said September was usually the first of the year-end months to witness a price increase, but this month witnessed factors that curbed inflation, including petrol prices, which were reduced three times and helped bring down transport service prices by 0.4 per cent.

The CPI increase was partly attributed to the increase in rice prices in the southern region, as exporters continued to buy, sparking a 0.35-per cent increase that was the highest in the food and restaurant services group.

It was also partly attributed to education services, which posted a 6.38-per cent month-on-month increase. In the first nine months of the year, education services contributed 10.81 per cent to the country's CPI growth.

The cost of education services increased by 8.55 per cent in Ha Noi and 19 per cent in HCM City following tuition fee increases of universities and colleges, in line with the roadmap which the Prime Minister had approved.

In addition, increasing demand for textbooks in the new schoolyear sparked a 7.17-per cent increase in education services group costs.

Goods and services other than saw stable growth with insignificant change. Month-on-month increases were posted by garments, textile and footwear at 0.32-per cent, beverage and cigarettes at 0.08 per cent, household appliances at 0.21 per cent, pharmacy and healthcare services at 0.23 per cent and entertainment at 0.09 per cent.

Month-on-month decreases were posted by the house and building materials group at 0.38 per cent and the transport group at 1.85 per cent.

In September, gold prices declined by 1.66 per cent and US dollar prices fell by 0.15 per cent over those of the previous month. — VNS

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