CPI rises 0.28% in August

The country’s Consumer Price Index rose in August, according to the General Statistics Office.

The General Statistics Office (GSO) reported that the nation’s Consumer Price Index (CPI) increased by 0.28 per cent over the previous month, 1.87 per cent over December last year and 2.26 per cent over the same period last year.

The GSO said that in the first eight months this year, the index saw a 2.57 per cent year-on-year increase on average, the lowest rise seen in the last three years.

Among the 11 main commodity groups, eight experienced price rises in August, including medicine and health service with the highest rise of 2.81 per cent. Education prices rose 0.57 per cent as some localities increased tuition fees for the new academic year.

Housing and construction material prices went up 0.33 per cent mostly because of a 0.43 per cent hike in rental costs. Restaurants and catering services increased 0.24 per cent with food soaring 0.31 per cent and foodstuffs 0.29 per cent.

Garment and footwear prices rose 0.09 per cent, household appliances 0.05 per cent, beverages and cigarettes 0.03 per cent, and other goods and services 0.14 per cent.

Three groups saw decreases – transportation; culture, entertainment and tourism; and post and telecommunications – with decreases of 0.46 per cent, 0.06 per cent and 0.05 per cent respectively.

The GSO said the health and education services price hike contributed to the CPI increase last month. The spread of African swine fever also affected the index.

As of August 20, 4.4 million pigs had been culled due to the disease, causing pork prices to rise 0.89 per cent against the previous month. Persistent scorching heat in some localities caused electricity and water demand to spike, resulting in 0.33 per cent and 0.28 per cent increases in their CPIs.

Core inflation in August rose 0.13 per cent over the previous month and 1.95 per cent over the same period last year. During the first eight months of 2019, it posted a 1.9 per cent year-on-year increase. — VNS

 

Source:
CPI rises 0.28% in August

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