Business
CPI reaches record low in three years
  • | VGP | August 30, 2019 09:00 AM
Consumer price index (CPI) saw a year-on-year growth of 2.57% in the first eight months of 2019, which is the lowest increase over the past three years, the General Statistics Office (GSO) reported.

In August, CPI witnessed a month-on-month growth of 0.28% and a year-on-year increase of 2.26%.

Eight out of 11 goods and services experienced price hikes in which prices of medicines and healthcare services witnessed the highest price increase at 2.81%.

Education costs grew 0.57% as some localities raise tuition fees in the new academic year.

The group of housing and building materials saw 0.33% of price increase.

Meanwhile, three groups of commodities saw decreasing costs including transport (down 0.46%); culture, entertainment, and tourism (down 0.06%), post and telecom (down 0.05%).

The GSO attributed CPI increase in August to higher costs of healthcare services and education fees in line with market prices. Accordingly, 3.64% price increase of healthcare services made CPI pick up 0.14%.

African swine fever outbreaks and hot weather were blamed for higher CPI.

In the first eight months of 2019, CPI saw a year-on-year growth of 2.57% , which is the lowest increase over the past three years.

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