Vietnam’s October consumer price index (CPI) only increased 0.85% in October against last month, according to the General Statistics Office (GSO).
Prices of food and catering services increased again by 0.29% compared to September
The rate represents a sharp fall compared to the rise of 2.2% in September against August.
The country’s October CPI increased 7% against October 2011 and 6.02% against December 2011.
In October, except for the lower prices of post and telecommunications, prices of 10 among 11 commodities used for CPI calculations only slightly increased.
After the price decrease for months, prices of food and catering services increased again by 0.29% compared to September. The services account for 40% in the CPI’s price basket.
Medicine and medical services saw the highest price rise of 5.94%. Other groups which saw price rises of over 1% including education (1.88%) and construction materials (1.09%).
The recent petroleum price rises have had minimal affect on transport prices which witnessed a CPI rise of just 0.61% in October against September.
Hanoi’s October CPI increased 0.37% against September. The rate is 0.4% for HCM City, 0.37% for Haiphong and 0.44% for Thua Thien-Hue Province. Thai Nguyen Province posted the highest CPI rise in October with 4.78%.
At the 4th sitting session of the 13th National Assembly, Prime Minister Nguyen Tan Dung said Vietnam was targeting a CPI rate of 8% this year.
The country’s CPI increase would remain in single digits if CPI increases in the two remaining months of this year were curbed at less than 1%.
