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Sep 29, 2020 / 16:40

Vietnam September inflation slows to 5-year low at 0.12%

Core inflation comes at 2.59% year-on-year in the first nine months of 2020.

Vietnam's consumer price index (CPI), the main gauge of inflation, in September increased 0.12% against the previous month and 0.01% versus the end of 2019, both at the weakest levels in the 2016 – 2020 period, according to the General Statistics Office (GSO). 

 Data: GSO. Chart: Ngoc Thuy. 

Six out of 11 commodity groups that are components of the basket for CPI calculation witnessed month-on-month price hikes. Among them, education posted the sharpest increase.

Meanwhile, the CPI in the third quarter grew by 0.92% against the previous quarter and 3.81% year-on-year.

Overall, the CPI in the first nine months of this year has increased by 3.85% year-on-year.

According to the GSO, core inflation in the nine-month period was 2.59%.

Domestic gold prices continued the growing trend due to global uncertainties caused by the Covid-19 pandemic, with a decrease in prices as a result of investors booking profits, a better-than-expected recovery of the US economy and an appreciation of the US dollar against other currencies.

In September, gold prices in Vietnam declined by 0.33% month-on-month but soared 32.37% against last December and 30.33% year-on-year.