September CPI increases 0.54 percent

An upturn was seen in ten out of 11 major goods and service groups, with the biggest increase reported in education at 7.19 percent as 53 centrally-run cities and provinces raised school fees in accordance with the Government’s decree. 

Transport services prices followed with a 0.55 percent increase, due to several petrol price hikes. 

Decrease was spotted only in the price of telecommunications at 0.07 percent.

Do Thi Ngoc, Deputy Director of the GSO’s Price Statistics Department, said the CPI of the first nine months of this year increased 2.07 percent compared to the same period last year with an average increase of 0.34 percent a month. However, many factors could cause pressure on CPI in the remaining months of this year, including prices of health services, gas and oil, and year-end expenditure.

She said the Government and relevant ministries and sectors should continue to keep a close watch of inflation. Besides, the State should consider the timing of price adjustment for some essential goods to prevent psychological pressure on the CPI. 

According to the GSO, the September basic inflation (excluding food and fresh foodstuff, energy and State-controlled commodities such as healthcare and education services) climbed 0.07 percent from the previous month and 1.85 percent from one year ago. Basic inflation of the first nine months 2016 rose 1.81 percent against the same period last year.

The basic inflation from January to September 2016 fluctuated within a narrow amplitude from 1.64 percent to 1.88 percent, reflecting a healthy monetary policy that helps to stablise macroeconomy.

October’s CPI is forecast to increase due to hikes in health services fees and gas and oil prices in line with hikes in the world’s gasoline and oil prices