Business

CPI slightly edges up in August, education posts strongest increase

SGGP
Consumer price index (CPI) in August 2020 slightly increased by 0.07 percent compared to the previous month and decreased by 0.12 percent compared to December last year, the lowest levels in the same month in the period from 2016 to 2020.

The prices of educational services also increase in some provinces and municipalities. (Photo: SGGP)

The prices of educational services also increase in some provinces and municipalities. (Photo: SGGP)

However, compared to the same period last year, the average CPI in the first eight months of this year still increased by 3.96 percent.

According to the General Statistics Office of Vietnam, the CPI in August increased compared to July, mainly because the impacts of the Sinlaku storm and widespread rains caused the prices of vegetables to rise. Domestic rice prices increased as the export prices of Vietnamese rice reached the highest level in the past many years. Besides, the prices of educational services also increased in some provinces and municipalities under Decree 86/2015/ND-CP issued on October 2, 2015, of the Government.

In the increase of 0.07 percent of CPI in August this year compared to the previous month, 7 out of 11 groups of commodities and services posted increases in the price index. Of which, education increased the most with 0.18 percent as some provinces and municipalities increased tuition for the new school year 2020-2021, and the prices of books and school supplies also climbed due to increasing buying demand to prepare for the new school year, causing the general CPI to inch up 0.01 percent.

Restaurants and catering services increased by 0.11 percent. Of which, food surged by 0.6 percent, and foodstuffs went up by 0.08 percent. Transportation edged up 0.1 percent due to the impact of the increase in gasoline and oil prices on July 28 and the decrease in gasoline and oil prices on August 12, causing the gasoline and oil price index to mount 0.41 percent.

The groups of commodities and services saw decreases in the price index include culture, entertainment, and tourism which decreased by 0.2 percent due to the sharp decline in tourism demand when the Covid-19 pandemic broke out again; post and telecommunications, which slid 0.05 percent; garments, hats, and footwear which sank 0.03 percent. Meanwhile, only equipment and household appliances did not change.

By Anh Phuong – Translated by Gia Bao

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