CPI reaches 7-month record high

15:30 | 24/09/2014

VGP – Viet Nam’s consumer price index (CPI) for September saw a month-on-month increase of 0.4%, the highest level over the last seven months, according to the General Statistics Office (GSO).

Source: the General Statistics Office – Photo: VGP

The GSO attributed the surge to the rising tuition fees at universities and colleges in accordance with the PM’s approved roadmap.

September’s CPI posted a year-on-year surge of 3.62% and up 2.25% against December, 2013.

In the January-September period, CPI picked up 4.61%against the same period last year.

Specifically, nine out of the 11 groups of commodities calculated experienced rising costs including education (6.38%);restaurants and food (0.22%); garments and textiles (0.32%); medicines and medical services (0.23%).

Meanwhile, only two groups of commodities witnessed declining prices including transport and public services (1.85%) and housing and building materials (0.38%).

Gold prices and US dollar experienced a month-on-month decline of 1.66% and 0.15%, respectively.

The GSO assessed that the rising prices in the first nine months were relatively low since 2005 and met the goal preset by the National Assembly for 2014.

A stable CPI is said to enable the State Bank of Viet Nam to loosen the monetary policies, cut interest rates, boost consumption demands and spur domestic production and economic growth./.  

By Huong Giang