Log in
Business

Vietnam's CPI in August increases due to hike in medicine and petrol prices

The Consumer Price Index (CPI) in August increased by 0.92% compared to the previous month, mostly due to a rise in medicine and petrol prices, according to the General Statistics Office (GSO)

Ten out of 11 groups of goods and services saw price increases in August, with the highest rise reported in the medicine and health service group at 2.86%, as 17 provinces and cities nationwide raised health service fees for patients without health insurance in accordance with the a circular issued by the Health Ministry.
Prices of the transport group also went up by 2.13%, which was mainly driven by the price increases of petrol and oil on August 4 and August 19.
The CPI increase was also attributed to the upturn in prices of restaurant and catering services (up 1.06%), mostly due to the sharp increases of pork prices and vegetables.
In addition, the price of housing and construction materials went up 0.93%, while the price of education surged 0.57% due to the rise in school fees in five provinces and cities.
Five groups of goods and services witnessed small price increases, between 0.01% - 0.10%, including apparel, hats and footwear; beverages and cigarettes; household equipment and appliances; culture, entertainment and tourism; and goods and other services.
Only the post and telecommunications group suffered a price decrease, at 0.04%.
The GSO stated that the CPI in August surged by 1.23% compared to December 2016 and by 3.35% compared to the same period in 2016.
Not included in the CPI components, the price of gold in August rose 1.11% compared to the previous month but fell 2.35% compared to the same period last year. Meanwhile, the price of the US dollar in August decreased 0.03% over the previous month and rose 1.83% over the same period in 2016.
 
Reactions:
Share:
Trending
Most Viewed
Vietnam can still thrive despite global turmoil: ADB

Vietnam can still thrive despite global turmoil: ADB

For Vietnam, this is both a challenge and an opportunity to accelerate domestic reforms, expand its global partnerships, and reinforce its competitive edge in a more complex world.

FTA Index facilitates Vietnam's 8% GDP target in 2025: Prime Minister

FTA Index facilitates Vietnam's 8% GDP target in 2025: Prime Minister

The FTA Index aims to provide transparent, objective data for central and local authorities to steer and monitor integration efforts

Q1 sees foreign investors posting $1 billion in net sales

Q1 sees foreign investors posting $1 billion in net sales

Similar outflows are seen across the region with Vietnam's foreign investor outflows remain moderate.

SSC launches Vietnam Governance Manual 2025

SSC launches Vietnam Governance Manual 2025

Vietnam targets 100% online processing of business-related procedures

Vietnam targets 100% online processing of business-related procedures

By 2026, corporate compliance costs must be halved compared to 2024, achieved through a 50% reduction in processing times.

Vietnam aims to create one million new businesses by 2030

Vietnam aims to create one million new businesses by 2030

Ministries and local governments are expected to cut at least 30% of processing times, compliance costs, and unnecessary business conditions this year.

Hanoi advances energy efficiency for businesses

Hanoi advances energy efficiency for businesses

Hanoi authorities, in collaboration with relevant agencies, are providing technical support to businesses in adopting advanced energy-saving technologies and developing energy efficiency indices.

Vietnamese spend US$13 million daily on coffee and tea

Vietnamese spend US$13 million daily on coffee and tea

Total revenue for the F&B industry is expected to reach VND755.4 trillion ($29.6 billion) this year.