Vietnam’s inflation edges closer to annual limit in October

October 30, 2017 | 07:07 pm GMT+7
Higher prices for healthcare and food caused CPI to jump nearly 3 percent on-year.

Vietnam's October consumer price index (CPI) advanced 2.98 percent against the same period last year and 0.41 percent against September due mainly to rising costs of healthcare services, construction materials and food and foodstuff, the General Statistics Office (GSO) said on Monday.

CPI rose 3.71 percent on-year in the first 10 months, the highest rate in three years.

"It is under control," said Do Thi Ngoc, director of the GSO’s Price Statistics Department. "The annual inflation limit set for this year is 4 percent."

In October, all eleven categories used to calculate CPI saw a monthly increase.

CPI in the healthcare sector this month recorded the highest increase, up 32 percent on-year and 2.14 percent on-month, due to a hike in healthcare service fees for patients without insurance.

Recent floods that damaged more than 22,000 hectares (54,300 acres) of rice also led to a 0.57 percent on-month increase in the cost of food, Ngoc added. Excessive demand for food during the current wedding season, particularly in big cities, also contributed to the hike.

Costs in the construction material and transport sectors jumped 0.63 percent and 0.61 percent respectively against September.

Other sectors witnessed small increases ranging from 0.01-0.2 percent on-month. 

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