CPI up 0.23% in August led by education, food

The Consumer Price Index in August increased slightly by 0.23 per cent over last month, the General Statistics Offic announced yesterday.

On aggregate, the CPI was up 8.18 per cent over the same period last year and 8.61 per cent in comparison with the first eight months of last year.

Most commodities groups rose slightly, ranging from a low of 0.1 to a high of 0.6 per cent. Education saw the highest increase of 1.29 per cent, while the only decrease was experienced by post and telecoms at 4.55 per cent.

The second highest increase was in food stuff and restaurant services, which increased by 0.67 per cent and 0.1 per cent in comparison with last month. Housing and construction materials prices were up only 0.07 per cent.

Transport increased slightly by 0.37 per cent despite an increase in fuel prices in the middle of August.

The rise in food and restaurant services groups was attributed to an increase in rice production, for both consumption and export, in southern provinces.

The price of gold was down by 0.88 per cent while the US dollar rose 0.48 per cent over last month.

GSO expert Do Thi Ngoc said the month’s CPI increase had not been affected by a rise in fuel price or the depreciation of the Vietnamese dong compared to the US dollar. However, she predicted the coming month’s CPI would be impacted by these factors.

In the first eight months of the year, other commodities also saw a high increase, including gold (37.78 percent), transport (16 per cent), housing and construction materials (roughly 15%), other commodities and services (11.79 per cent) and goods (around 11 per cent).

The capital’s CPI increased by 0.15 per cent while HCM City’s decreased by 0.25 per cent. Thai Nguyen, Hai Phong and Thua Thien-Hue rose by 0.06 per cent, 0.12 per cent and 0.17 per cent respectively. — VNS

Tags: Vietnam CPI, Vietnam economic, Vietnam economy