Health, Education Fees Push up Vietnam Living Costs in March

Tuan Minh

10:40 24/03/2016

BizLIVE - Vietnam’s consumer prices in March posted a sharp rise of 0.57% from a month earlier due to hikes in prices of health and education services.

Health, Education Fees Push up Vietnam Living Costs in March

Vietnam's CPI has increased 0.57% month-on-month in March.

Vietnam’s consumer price index (CPI) in March has increased 0.57% month-on-month and 0.99% from the end of 2015, according to data the government-run General Statistics Office (GSO).
The increase is quite unusual as goods prices, especially those of food and foodstuffs, seasonally drop after the Lunar New Year (Tet) holiday. The one-week Tet holiday this year fell in early February.
GSO data shows that health services and education fees are the only two categories that have seen their prices up in the month following administrative adjustments.
Prices of medicines and health services spiked 24.34% month-on-month following a circular of the Ministry of Health, dated October 29, 2015. Prices of this category will continue to rise starting July this year.
Prices of the remaining nine categories have declined in the month. Prices of restaurant and catering services, which have the heaviest weight in the basket used for CPI calculation, have decreased 0.48%, preventing the CPI from soaring further.
The price of gold has climbed 4.87% month-on-month in March while that of the U.S. dollar has slipped 0.38%. Gold and USD are not included in the basket for CPI calculation.