CPI reaches 7-month record high

September 25, 2014 | 08:44

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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.

VGP

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