Vietnam’s August consumer price index (CPI) rose 0.1% against July, up 2.58% over the same period last year, posting the lowest increase since February this year, according to the General Statistics Office (GSO).
The GSO also said that the 0.1% rise was the lowest on a monthly basis over the past 10 years.
Vietnam’s August consumer price index rose 0.1% against July, up 2.58% over the same period last year
According to the office's report, Vietnam’s CPI has fallen for the three consecutive months since May, which is attributed to the price decrease of the items in the goods and services basket used for CPI calculations.
Five among 11 groups of goods and services of the basket saw a price fall, including restaurant and catering services (0.14%; transport (1.97%); culture, entertainment and tourism (0.12%); post and telecommunication services (0.03%); and housing and building materials (0.02%).
The fall in prices of restaurant and catering services was due to the abundant supply of food and foodstuffs that saw prices drop 0.35% and 0.19%, respectively.
Meanwhile, it is the cut in petrol prices which happened in late July and early August that has led to the fall in transport service prices.
Car and motorbike sales dropped as the month coincides with the seventh lunar month or the Ghost Month, considered an unfavourable time of the year for purchases.
The marginal increase in CPI was due to costlier health care services following a joint decision of ministries of health and finance. Medicine and healthcare services prices this month have the sharpest monthly hike.
