CPI in eight months rose by 2.57 percent, the lowest rate in the recent three years

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The increase in pork price is one of the factors increasing CPI compared to July 2019

According to the General Statistics Office, in addition to being consistent with a flexible monetary policy to maintain the Government's goal of stabilising the macro-economy, in the month of medical service price, education service price is adjusted to increase according to the roadmap to approach market prices and rising pork prices due to reduced supplies are the main factors that make the consumer price index increase compared to July 2019.

Accordingly, eight of 11 groups of goods and services with CPI increase were medicines and medical serviceup by 2.81 percent, education up by percent, housing and up by 0.24 percent, apparel, headwear, footwear up by 0.09 percent, appliances and household appliances up by 0.05 percent, beverages and cigarette increased by 0.03 percent, and other goods and services up by 0.14 percent.

Three groups with CPI decrease were transport down by 0.4 percent, culture, entertainment and tourism down by 0.06 percent, and post and telecommunication down by 0.05 percent.

According to the General Statistics Office, the CPI increase in August was mainly due to the upward revision in medical service price according to Circular No. 13/2019 / TT-BYT dated July 5, 2019 and Circular No. 37 / 2018 / TT-BYT November 30, 2018, making the CPI increase 0.14 percent.

Besides, the food group rose by 0.31 percent due to the increase of 0.31 percent in the rice price index, while the price index of flour and other cereals rose by 1.65 percent. The food group increased by 0.29 percent mainly due to the impact of African swine cholera so pork supply decreased, making pork price increase by 0.89 percent over the previous month, making the CPI up by 0.04 percent.

The General Statistics Office said the average eight-month CPI in 2019 increased by 2.57 percent over the same period in 2018, this is the lowest rate in the recent three years.

Core inflation in August 2019 rose by 0.13 percent from July 2019 and by 1.95 percent over the same period in 2018. Average core inflation in eight months of 2019 saw a year-on-year increase of 1.9 percent.

CPI grows 3.57% in nine months, inflation target achievable: GSO

In addition, the domestic gold price continued to increase according to the world gold price due to geopolitical tensions in the Middle East region, US-China trade tensions and decline of US dollardue to reduction in interest rate by the US Federal Reserve from July 31, 2019.