Vietnam inflation up 3.78% in first 10 months

Vietnam's consumer price index (CPI), an indicator of inflation, went up 0.33% from September to October and 3.78% in the first 10 months of this year, the General Statistics Office (GSO) said Wednesday.

The 10-month figure is close to the government's target of 4-4.5% this year.

October’s CPI was up 2.52% from December 2023 and 2.89% year-on-year, the GSO said.

Two sectors with highest CPI in October were transportation at 0.66% due to hikes in the prices of fuels and air fares, and food and restaurant services at 0.55% owing to higher food prices triggered by rainy weather negatively affecting crops.

Telecommunications-postal services was the only sector with lower CPI, down 0.05%, thanks to lower smartphone and tablet prices.

Other sectors like education, home appliance, beverages and tobacco, housing and utility, entertainment, healthcare and medicine and apparel-textiles recorded hikes of between 0.48% and 0.02%.

In October alone, retail sales and services revenue reached VND545.7 trillion ($21.5 billion), up 7.1% year-on-year. For the first 10 months, the figure was VND5,246.2 trillion ($206.8 billion), up 8.5% year-on-year.

The January-October figure included VND4,048.6 trillion ($159.6 billion) from retail sales, up 7.8% year-on-year; VND602.3 trillion from accommodation and restaurant services, up 12.5%; VND50.3 trillion from tourism, up 14.2%; and other sectors with VND545 trillion, up 9%.