Vietnam's CPI rises 0.2% in October, up 4.57% over first 10 months of 2026

Vietnam's consumer price index rose 0.2% in October from September, driven by higher domestic fuel prices and electricity demand, bringing the 10-month average increase to 4.57%. Housing, utilities and construction materials recorded a 6.66% year-on-year rise, while transport prices climbed 6.98%.

Vietnam's consumer price index (CPI) rose 0.2 per cent in October from the previous month, pushing the average increase over the first 10 months of 2026 to 4.57 per cent, according to the National Statistics Office under the Ministry of Finance. The October index increased 4.41 per cent from December 2025 and 5.09 per cent year-on-year. Core inflation averaged 4.24 per cent over the period.

Compared with September, prices increased in seven of the 11 main groups of consumer goods and services, while four recorded declines. CPI rose 0.16 per cent in urban areas and 0.25 per cent in rural areas. The food and catering services group increased 4.61 per cent year-on-year, contributing 1.65 percentage points to overall CPI growth.

Housing, electricity, water, fuel and construction materials recorded a 6.66 per cent increase, adding 1.51 percentage points to CPI. Household electricity prices rose 3.97 per cent amid higher demand during hot weather. Transport prices increased 6.98 per cent, contributing 0.7 percentage points to overall CPI growth, with fuel prices up 13.09 per cent. Education prices rose 3.29 per cent, while household appliances and equipment increased 2.88 per cent.

The statistics office noted that CPI increases accelerated in the early months of the year, peaked in May, eased in June and July, and picked up again from August through October. Higher global fuel and gas prices, rising construction and housing maintenance costs, increased electricity demand and higher food input costs were the main contributing factors.

Domestic gold prices fell 2.85 per cent in October from the previous month but averaged 37.28 per cent higher in the first 10 months year-on-year. The average global gold price stood at US$4,137.85 per ounce as of 28 October, down 6.69 per cent from September. The domestic US dollar price index declined 0.26 per cent month-on-month in October and 1.32 per cent from December 2025.

Core inflation fell 0.05 per cent in October from the previous month and rose 4.04 per cent year-on-year. Its average increase of 4.24 per cent in the first 10 months remained below headline CPI growth, as fuel, gas, food and fresh produce prices, as well as healthcare services, are excluded from the core inflation calculation.