This is the first time over the past 10 years that the CPI in September plunged against the previous month and it had the lowest growth at under 1 per cent in comparison with December 2014, Thuy said. — Photo tapchitaichinh

HA NOI (Biz Hub) — The consumer price index (CPI) in September continued its downward trend from August, an official of General Statistics Office (GSO) said at a press conference in Ha Noi yesterday.

Vu Thi Thu Thuy, GSO's head of the Price Statistics Department, said, while releasing the national CPI for September that it declined 0.21 per cent against August but increased 0.34 per cent against December of 2014.

This is the first time over the past 10 years that the CPI in September plunged against the previous month and it had the lowest growth at under 1 per cent in comparison with December 2014, Thuy said.

She said reasons for the reduction in the September CPI included decrease of petrol and oil prices twice on August 19 and September 3, bringing down the price of the transport group down to the lowest level of 3.17 per cent.

Another reason was the cut in gas prices for the fourth time, on September 1 by VND12,000 per 12-kg tank to VND270,000 due to the lower gas price on the world market.

In addition, the low demand for electricity in the autumn and high supply of rice and food had also pushed the CPI of September down, she said.

The prices dropped by 0.13 per cent for restaurant and catering services, 0.68 per cent in housing and building materials, and 0.07 per cent for posts and telecommunications.

Meanwhile, seven other goods and services groups saw a growth in prices, including the alcohol and tobacco (up 0.1 per cent), garment, hats and footwear (up 0.21 per cent), home appliances (up 0.07 per cent), and medicine and health services (up 0.43 per cent), in addition to education (up 1.24 per cent) and cultural, entertainment and tourist services (up 0.03 per cent).

In September, the gold price on the domestic market rose following a change in the world gold prices, Thuy said.

The local gold price surged by 3.54 per cent to VND3.398-3.406 million per SJC tael because of the world gold price and the State Bank of Vietnam's increase of inter-bank exchange rate between Vietnamese dong and US dollar and expansion in the trading band for the inter-bank exchange rate.

Meanwhile, the US dollar also increased 2.71 per cent due to a rise in the inter-bank exchange rate and the trading band of the rate to stabilise the local exchange rate market, Thuy said.

During the press conference, the GSO expected the CPI in October to continue dropping slightly because of the increase in supply of rice and other food items. — VNS