Vietnam - CPI rises sharply in September

The Consumer Price Index (CPI) in September increased by 2.2 per cent over the previous month, or a year-on-year increase of 6.48 per cent, the General Statistics Office (GSO) announced on September 24.

September's CPI represented the highest monthly figure since June 2011, and hit a record high for the month in the 1995-2011 period.

According to the GSO, prices of all 11 groups of commodities used to calculate the CPI went up this month between 0.01-23.87 per cent.

The sharpest price hike was in pharmaceuticals and the healthcare sector, while the lowest was recorded in post and telecommunications.

Nguyen Duc Thang, Director of the GSO CPI Department, attributed the strong increase to rising prices of essential goods and services, including education, healthcare, transportation, housing and construction materials, which contributed 2.1 per cent of the country’s 2.2 per cent CPI increase.

Hanoi and Ho Chi Minh City, as well as Hai Duong, Thai Binh, Lao Cai, Lang Son and Ha Tinh provinces experienced the highest CPI increases.

Thang predicted that the CPI is likely to continue going up as many localities are increasing the cost of education and healthcare services in October. The Government’s stimulus package and loose monetary policies may also put pressure on the CPI, which is forecast to reach an average of more than 7 per cent by the end of this year, he added.

VOV

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