The consumer price index (CPI) in November rose 0.13 per cent from the previous month and 2.62 per cent year-on-year, according to the General Statistics Office (GSO).

 

This was the lower growth in CPI, compared to the growth rate of 0.48 per cent in November 2016, 0.34 per cent in November 2013, 0.47 per cent in November 2012, 0.39 per cent in November 2011, and 1.86 per cent in November 2010.

 

That meant the average CPI for the last 11 months rose 3.61 per cent year-on-year. 

 

Đỗ Thị Ngọc, deputy head of GSO’s CPI Department, said the growth rate of 0.13 per cent in the November CPI was due to price increases in eight of 11 goods and service groups that were used to calculate CPI.

 

Of these, the price surged 0.68 per cent for the transport group, following two increases in oil and petrol prices on November 4 and 20; and 0.20 per cent for medicine and health care services, because Quảng Ninh and Quảng Trị provinces increased prices for health care services, according to existing regulations, she said.

 

Meanwhile, the prices of garment and footwear products rose 0.15 per cent, and the price of restaurant and catering services increased 0.11 per cent due to the price of food increasing by 1.12 per cent, caused by higher demand on food in flood-hit areas.

 

However, there were three groups that reduced prices in November, including the group of housing and building materials, with a reduced rate of 0.04 per cent due to the lower price of steel products for construction. Prices of cultural and entertainment services dropped 0.01 per cent and prices of post and telecommunication services fell 0.03 per cent.

 

In November, the market saw a price reduction of 0.3 per cent and 0.01 per cent for gold and US dollars, respectively.

 

Ngọc said core inflation in November rose 0.06 per cent from the previous month, and 1.28 per cent over the one year period.

 

The eleven-month inflation increased by 1.42 per cent year on year, lower than the projected figure of 1.6 to 1.8 per cent, proving that the monetary policy has been carried out effectively.