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

01-Oct-2020 Intellasia | Hanoi Times | 7:44 AM Print This Post

Core inflation comes at 2.59 percent 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 percent against the previous month and 0.01 percent versus the end of 2019, both at the weakest levels in the 2016 2020 period, according to the general Statistical Office (GSO).

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 percent against the previous quarter and 3.81 percent year-on-year.

Overall, the CPI in the first nine months of this year has increased by 3.85 percent 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 percent month-on-month but soared 32.37 percent against last December and 30.33 percent year-on-year.


Category: Economy, Vietnam

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