Consumer price index fluctuates according to the increase in rice, gas, petrol and tuition fees.

According to the General Statistics Office, from September 2019 to present, the consumer price index (CPI) increased by 0.32%; 0.12%; -0.62%; 0.4% and 1.08% respectively.

Explaining this reason, Ms. Nguyen Thu Oanh, Director of the Price Statistics Department of the General Statistics Office, said: The fact that some localities increased tuition fees according to the roadmap of Decree No. 81/2021/ND-CP; domestic rice, gasoline, and gas prices increased according to world prices, and housing rental prices increased were the main reasons for the sharp increase in CPI in September 2023.

According to the General Statistics Office, the average CPI in the third quarter of 2023 increased by 2.89% over the same period last year, of which: Housing and construction materials increased by 6.99%; education increased by 5.95%; other goods and services increased by 5.9%; beverages and tobacco increased by 3.05%; food and catering services increased by 2.59%; clothing, hats, and footwear increased by 2.03%; household equipment and utensils increased by 1.86%; culture, entertainment, and tourism increased by 1.47%; medicine and medical services increased by 0.58%.

There are 2 groups with price indexes decreasing compared to the same period last year: post and telecommunications decreased by 1.12%; transportation decreased by 2.28%.

Thus, the average CPI in the first 9 months of 2023 increased by 3.16% compared to the average in the same period in 2022. The increase in the CPI in the first 9 months of this year was also due to the average price index of air tickets in the first 9 months of this year increasing by 71.56% compared to the same period last year, mainly due to high fuel prices, exchange rates, and interest rates, which increased the costs of airlines. In addition, the high demand for travel of people, especially during the recent holidays, Tet, and summer vacations, has affected air transport prices.

According to Ms. Nguyen Thu Oanh, in the first 9 months of this year, the world commodity market continued to be affected by the complicated developments of the economic, political and social situation. Consumption and economic activities declined across the board. Global trade standards and protectionist barriers increased while consumption remained weak, affecting imports and exports, supply and demand and prices. Global inflation tended to decrease but remained high compared to the long-term goals of many countries.

Domestically, the supply of goods is guaranteed, and production prices fluctuate. The producer price index of agriculture, forestry and fishery products and the service producer price index in the third quarter of 2023 and September this year tend to increase compared to the same period last year, while the industrial producer price index, the price index of raw materials and fuels used for production and the export and import price index of goods tend to decrease.

"Recently, the Government and the Prime Minister have proactively, resolutely, and closely directed ministries and branches to implement many solutions to remove difficulties, promote growth, maintain macroeconomic stability, control inflation, and ensure major balances of the economy," said Ms. Nguyen Thu Oanh.

Accordingly, many solutions have been actively implemented, such as: Reducing lending interest rates, stabilizing the foreign exchange market; promoting disbursement of public investment capital; implementing credit packages to support industries and sectors; exempting, reducing, and extending taxes, fees, and land use fees; supporting businesses, and extending visas for tourists. In particular, policies to remove difficulties and obstacles in the corporate bond market, real estate, and social security have also been strongly directed by the Government and ministries.

Thanks to that, the market for essential goods has not fluctuated abnormally, supply is guaranteed, and commodity prices fluctuate. On average, in the first 9 months, CPI increased by 3.16% compared to the same period in 2022 and core inflation increased by 4.49%.