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Vietnam's CPI to hike 0.54 percent in September

Staff Writer | September 27, 2016
Vietnam's consumer price index (CPI) in September is expected to hike by 0.54% against the previous month and 3.34% year-on-year, said the General Statistics Office (GSO) on Monday.
Asia   Vietnam targets to keep its inflation rate below 5 percent
The country's Sept. CPI is forecast to go up by 3.14 percent compared to December 2015. These figures drive the average nine-month CPI to rise by 2.07 percent year-on-year.

According to the GSO, the hike in Sept. CPI was attributed to the tuition fee increase in all 53 localities across Vietnam.

Specifically, among 11 items in the CPI calculation basket, prices of ten items are estimated to climb in September. The price of education group experiences the sharpest increase of 7.19 percent in September against August, contributing 0.42 percentage points to the CPI rise.

Price of transportation group registers the second highest increase with 0.55 percent against the previous month due to consecutive petroleum price hikes in domestic market.

Meanwhile, postal and telecommunication service is the only group that witnesses decrease of 0.07 percent during the month, said GSO.

Though not included in the CPI calculation basket, in September, the price of gold is projected to decrease by 0.36 percent while that of U.S. dollars goes up 0.07 percent over August.

This year, Vietnam targets to keep its inflation rate below 5 percent.