CPI jumps 0.41% in October


The consumer price index (CPI) in October saw a month-on-month surge of 0.41%. Inflation rate picked up 3.71% on average in the first ten months, which is within control, according to the General Statistics Office (GSO).

The GSO reported that in October, CPI saw a month-on-month rise of 0.41%; a year-on-year growth of 2.98%; and went up 2.29% against last December.

Thanks to bigcthe positive outcomes, CPI picked up 3.71% on average in the first ten months. Thus, the preset goal of managing inflation rate under 4% is within reach. However, the GSO noted that CPI would go up in the rest of the year due to robustly increasing purchases, and a boost for credit growth and investment in favor of development.

The GSO also reported that in October, all 11 groups of commodities and services witnessed rising prices of which medicines and medical costs experienced the highest hike (up 2.14%).

The groups of housing and building materials; transport, restaurants and food service, education saw slight price increases of 0.63%; 0.61%; 0.31%; and 0.19%, respectively.

The GSO attributed rising costs of food, increasing 0.57% for foodstuff and 0.37% for food, to the serious tropical storms and landslides in the North and Central regions.

In October, gold price dropped by 0.88% against the previous month at VND 3.65 million per tael. USD price was stable at VND 22,710 per USD.