The consumer price index rose 1.05 percent in October and 9.66 percent over the same period last year, led mainly by the higher prices of education, food, and construction materials, according to the General Statistics Office.
It took the year-to-date inflation rate to 7.58 percent, making the government’s full-year target of 8 percent unachievable, analysts said, adding that even keeping it to single digits would mean a success.
Out of the basket of 11 goods and services that make up the CPI, 10 saw prices rise in October. Only postal and telecom services were lower, falling by 0.07 percent.
Demand-pull inflationary pressure continued this month. The highest rise was seen in education as the new school year began, with prices going up 3.9 percent from September and 19.03 percent over December 31.
Food and restaurant services saw the second biggest increase of 1.32 percent, while the prices of food and foodstuff rose 1.89 percent and 1.22 percent.
Housing and construction materials were up 1.04 percent due to the higher prices of steel and cement, partly due to higher imported steel ingot prices.
Beverages and cigarettes rose 0.9 percent, household materials and furniture were up 0.48 percent, recreation and tourism went up by 0.16 percent and transportation by 0.2 percent. The prices of other goods and services rose 0.7 percent.
The analysts had expected October inflation to be under 1 percent and they said prices are likely to stay high in the last few months of the year as shopping peaks for the festival season and on forex concerns.
The November CPI is also expected to rise due to the shortage of food supplies caused by natural disasters.
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