10-month CPI increase hits lowest level since 2016

VOV.VN - The consumer price index (CPI) during the opening ten months of the year increased by only 1.81% compared to the same period from last year, making it the lowest rate since 2016, according to figures released by the General Statistics Office (GSO).

October alone saw the CPI decrease by 0.2% compared to the previous month, whilst increasing by 1.77% compared to the same period from last year.

Of the 11 major groups of consumer goods and services, three groups recorded a decline in prices compared to the previous month, while a total of eight groups also witnessed an increase in prices.

Most notably, food and catering services saw a fall of 1.28% in prices over the previous month due to an abundance of supply sources, a factor which led to the price of rice and pork to drop by 0.25% and 9.38%, respectively.

The group of housing and construction materials also suffered a fall of 0.26% due to a fall in rent prices aimed at supporting people negatively impacted by the COVID-19 pandemic, while the post and telecommunications group also decreased by 0.04%.

The price of domestic electricity and water also fell , which led to low demand for use in comparison to the previous month.

The transportation group posted the highest increase of 2.51% compared to the previous month as a result of three adjustments made in petrol and oil prices.

Moreover, the education group increased by 0.25% over the previous month, with educational services enjoying a rise of 0.22% due to several localities increasing preschool fees, while the remaining groups saw a rise of between 0.02% and 0.19%.

Core inflation throughout October reduced by 0.17% over the previous month, marking an annual increase of 0.5% against the same period from last year.

Throughout the reviewed period, core inflation rose by only 0.84% ​on-year, lower than the overall average CPI of 1.81%, mainly due to price hikes in food, gasoline, oil, and gas.

According to data compiled by the GSO, core inflation in October and during the 10-month period as a whole witnessed its lowest levels since 2011.

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