Vietnam’s consumer price index (CPI) rose 3.16 per cent year-on-year in the first nine months of 2023, according to the General Statistics Office (GSO).

This rise was largely due to higher transportation prices, especially air tickets which rose 71.56 per cent due to higher fuel prices and higher interest rates and exchange rates. Increasing travelling demand during the summer holidays also contributed.

Higher education-related prices, which rose 7.28 per cent year-on-year, pushed up the CPI.

The September CPI, meanwhile, increased 3.66 per cent year-on-year as a result of higher prices for rice, oil and gasoline, gas, and rental housing. A 1.12 per cent increase in the price of housing and construction materials also contributed.

The CPI in the third quarter was up 2.89 per cent compared to the same period last year.

Figures from the GSO show that core inflation in September increased 0.26 per cent compared to August and 3.8 per cent year-on-year, pushing up core inflation in the first nine months to 4.49 per cent.