The consumer price index (CPI) in October rose by 0.37 percent against September, a slightly lower than the level of 0.62 percent in the previous month.

According to the General Statistics Office (GSO), the index jumped by 2.99 percent over the same period last year, and the CPI for the first ten months of the year increased by 7.17 percent compared to the same period last year.

All 10 commodities in the price basket experienced price increases ranging from 0.02 to 0.77 percent, said Nguyen Duc Thang, deputy head of the GSO Trade, Services and Price Department.

The highest increase was seen in transportation and post with a record of 0.77 percent duet to rising petroleum prices, followed by education, 0.73 percent and housing and construction material, 0.55 percent.

Due to the increase of export rice price and the impacts of heavy storms in the central region, prices of food rose by 0.03 percent and foodstuff, 0.49 percent.

Culture, sports and recreation services registered the lowest rise of 0.02 percent.

The two major cities Hanoi and Ho Chi Minh City saw their CPI rise by 0.26 percent and 0.15 percent respectively, in the month, slowing down the national figure.

The gold price saw strong increase of 5.01 percent, making a year-on-year increase of 12.78 percent. Meanwhile, USD exchange rate experienced a slight decline of 0.35 percent.

GSO reported that the CPI growth for the year is still likely to stay at one-digit, possibly at 7 percent, demonstrating the effectiveness of the Government’s stimulus package.

According to experts, in order to control the CPI increase from now to the end of the year, it is necessary to keep the balance between supply and demand.

Added to this, management agencies have to control credit growth and stabilise USD/VND exchange rate./.

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