Vietnam's inflation stays flat at 0% in October

The annual rate of inflation remains at 0% in October, unchanged from the previous month, according to the latest data published by the General Statistics Office (GSO).

 

Deputy head of the GSO’s price statistics department Do Thi Ngoc said the wedding season boosted the demand for foodstuffs, while vegetables were in short supply due to the impact of monsoon rains in early October.

 

Fuel price rises in mid-September and early October have also contributed to the one-month increase in the CPI.

 

Other contributors include a higher demand for clothes and footwear items as northern Vietnam was preparing for the onset of cold weather, and the rises in water prices in Hanoi, Lao Cai and Nam Dinh provinces.

 

On the other hand, the rise in the CPI was constrained by lower transport costs and building materials, and an abundant supply of rice.

 

The costs for travelling by bus, taxi, rail and air all went down after the Ministry of Transport ordered carriers to slash prices in line with fuel price cuts in the previous months.

 

Meanwhile, core inflation, which excludes the impact of changes in the price of food, energy and government-regulated goods, fell to 1.82% from the 1.87% rate in September.

 

In October, the prices of both gold and the US dollar dropped slightly against the previous month. A tael of SJC gold was priced at an average of VND34 million while the US dollar was hovering around VND22,457.

 

(Source: nhandan.org.vn)