Q3's CPI rises, driven by food and education costs

Vietnam's consumer price index (CPI) increased by 3.48% in the third quarter of 2024 compared to the same period last year, primarily due to rising food prices in localities directly affected by Typhoon Yagi and higher costs for housing and education services.

In September alone, the CPI rose by 0.29%. Nine of the eleven main commodity groups saw price increases, with education costs leading the way at 2.09%. This was largely attributed to adjustments in tuition fees for the 2024-2025 academic year at certain private schools.

Meanwhile, food and catering services prices rose by 0.92%, according to the General Statistics Office (GSO).

Transport costs, however, declined by 2.77% in September. Domestic gold prices surged by 1.88% compared to the previous month, and by 22.66% compared to December 2023. Year-over-year, gold prices were up 32.27%.

The GSO also reported that core inflation in September increased by 0.27% month-on-month and 2.54% year-on-year. For the first nine months of 2024, the average CPI rose by 3.88%, while core inflation increased by 2.69%.