October CPI up 0.33% from previous month

The Consumer Price Index (CPI) of Vietnam in October climbed by 0.33% compared to the preceding month and 2.89% year-on-year, according to data unveiled by the General Statistics Office (GSO) on November 6.

The CPI increase was mainly driven by higher prices for food, rental housing, and domestic fuel which fluctuated in line with global market trends.

On average, the CPI in the past ten months rose 3.78% compared to the same period last year.

Ten of the 11 groups of goods and services saw price increases and one group decreased in price in October, according to the GSO.

The GSO noted that transportation showed the largest increase among sectors, rising by 0.66%, largely due to a 2.27% increase in diesel prices and a 0.98% rise in domestic petrol prices following multiple price adjustments in October. Additionally, air passenger transport costs surged by 32.75% due to increased consumer demand.

Other groups also saw price increases, including goods and services (up 0.26%), beverages and tobacco (up 0.11%), and household appliances (up 0.2%).

The GSO also reported that core inflation in the past ten months soared 2.69% year-on-year. This was primarily because key contributors to CPI growth - such as food, electricity, education and healthcare services, and gasoline - are excluded from core inflation calculations.