August’s CPI drops to lowest in five years

The index saw a month-on-month increase of 0.07% and fell by 0.12% from last December.

In the first eight months, average CPI picked up 3.96% against the same period last year. 

In August, seven out of 11 groups of commodities experienced price hikes including education (up 0.18%) due to higher education fees in the 2020-2021 academic year, catering service (up 0.11%), transport (up 0.1%), and housing and building materials (up 0.1%).

On the other hand, the group of culture, entertainment, and tourism experienced 0.2% of price decline due to a sharp fall in demands for tourism amidst COVID-19 resurgence in Viet Nam.

In addition, the groups of telecom and post services and garments and textiles also saw lower costs of 0.05% and 0.03%, respectively. The group of household utensils was kept unchanged. 

The GSO reported that as of August 24, average gold price saw a month-on-month increase of 6.14%./.

By Kim Anh