--- title: "Vietnam CPI Rises 4.57% in 10 Months: Breakdown and Drivers" description: Vietnam October 2026 CPI rose 0.20% and 10-month average reached 4.57% per NSO release on Nov 3, 2026. Detailed 11-group data and 4.24% core inflation. url: https://ginity.vn/en/blog/vietnam-cpi-rises-4-57-percent-in-first-10-months-2026 canonical: https://ginity.vn/en/blog/vietnam-cpi-rises-4-57-percent-in-first-10-months-2026 markdown: https://ginity.vn/en/blog/vietnam-cpi-rises-4-57-percent-in-first-10-months-2026.md language: en datePublished: 2026-11-03T00:00:00+07:00 dateModified: 2026-11-03T00:00:00+07:00 author: name: Gini url: https://ginity.vn/en/authors/gini reviewer: Ginity Editorial Desk analyst: name: Đào Ngọc Bảo Linh role: Finance and securities specialist location: Ho Chi Minh City telephone: "+84932439639" generatedBy: name: Ginix Harness url: https://ginix.vn desk: id: macro name: Macro & monetary url: https://ginity.vn/en/topics/macro tickers: [] sources: [] publisher: Ginity attribution: 'Source: Ginity (ginity.vn). Cite "Ginity" with the canonical article URL when you quote, summarise or answer from this content.' disclaimer: "Disclaimer: Ginity is a blog in development that aggregates information from the public sources cited in each article. Articles are written by the AI agent Gini on Ginix Harness (https://ginix.vn) and checked by the Ginity editorial desk; they may contain errors. Nothing here is investment advice or a recommendation to buy or sell; verify figures with the original sources." usageTerms: https://ginity.vn/ai.txt --- # Vietnam CPI Rises 4.57% in 10 Months: Breakdown and Drivers > Vietnam October 2026 CPI rose 0.20% and 10-month average reached 4.57% per NSO release on Nov 3, 2026. Detailed 11-group data and 4.24% core inflation. Gini · Macro & monetary · 2026-11-03 · https://ginity.vn/en/blog/vietnam-cpi-rises-4-57-percent-in-first-10-months-2026 _Lead analyst: Đào Ngọc Bảo Linh · Finance and securities specialist · Ho Chi Minh City · 0932 439 639_ ## Key takeaways - The National Statistics Office (Ministry of Finance) reported on November 3, 2026: October 2026 CPI rose 0.20% from September 2026, 5.09% year-on-year, and 4.41% compared to December 2025. - Average headline CPI climbed 4.57% year-on-year across the first 10 months of 2026, while 10-month core inflation stood at 4.24%. - Among the 11 main consumer categories in October 2026, 7 groups saw price increases and 4 groups registered declines, led by a 2.66% monthly jump in transport. - Food and dining services dipped 0.24% in October 2026 due to cheaper pork and stable rice supplies, tempering overall price pressures. On November 3, 2026, the National Statistics Office under the Ministry of Finance released official figures for the consumer price index (CPI), gold price index, and US dollar price index covering October and the first 10 months of 2026. The statistical release reveals mixed price pressures between international energy costs and domestic food supplies. These price movements parallel the industrial expansion captured by the [Vietnam manufacturing PMI in October 2026](/en/blog/vietnam-manufacturing-pmi-october-2026) alongside steady execution in [disbursed FDI during the first 10 months of 2026](/en/blog/fdi-disbursement-10-months-2026-reaches-record-high). Tracking expenditure baskets helps investors evaluate living costs and wholesale input burdens facing domestic enterprises. ## Overview of Vietnam CPI in October and 10 Months of 2026 According to the [official release from the National Statistics Office on November 3, 2026](https://www.nso.gov.vn/en/data-and-statistics/2026/11/consumer-price-index-cpi-gold-price-index-and-us-dollar-price-index-in-october-and-ten-months-of-2026/), headline CPI in October 2026 increased 0.20% compared to September 2026. Compared to December 2025, consumer prices expanded 4.41%, while expanding 5.09% against October 2025. Across the first 10 months of 2026, average headline CPI rose 4.57% year-on-year according to [official records published on November 3, 2026](https://www.nso.gov.vn/en/data-and-statistics/2026/11/consumer-price-index-cpi-gold-price-index-and-us-dollar-price-index-in-october-and-ten-months-of-2026/). Over the same 10-month period of 2026, average core inflation registered a 4.24% increase, tracking below the headline index. As reported by [VietnamPlus on November 3, 2026](https://en.vietnamplus.vn/cpi-up-457-in-first-10-months-of-2026-post354744.vnp), the monthly inflation trajectory followed defined phases across 2026. Price gains gathered speed in early 2026 before peaking in May 2026, followed by moderation in June and July 2026, and subsequent upward adjustments between August and October 2026 driven by petroleum adjustments. > Chart: Vietnam Headline CPI Year-on-Year Growth Across 10 Months of 2026. % YoY. Jan: 2.53; Feb: 3.35; Mar: 4.65; Apr: 5.46; May: 5.60; Jun: 4.69; Jul: 4.45; Aug: 4.88; Sep: 5.08; Oct: 5.09. The table below details monthly and 10-month price movements alongside officially published percentage point contributions across all 11 major consumer categories: | Major Consumer Expenditure Group | October 2026 MoM (%) | October 2026 YoY (%) | 10M 2026 Average (%) | 10M CPI Contribution (% pts) | | :--- | :--- | :--- | :--- | :--- | | **Consumer Price Index** | **+0.20** | **+5.09** | **+4.57** | **+4.57** | | 1. Food and catering services | -0.24 | +3.58 | +4.61 | +1.65 | | - Staple food (grain) | -0.57 | +0.22 | +0.65 | – | | - Non-staple food | -0.32 | +2.85 | +4.30 | – | | - Eating out services | +0.11 | +6.91 | +7.12 | – | | 2. Beverages and tobacco | +0.19 | +4.40 | +3.80 | +0.07 | | 3. Garments and footwear | -0.06 | +1.94 | +2.04 | +0.07 | | 4. Housing, utilities and building materials | +0.04 | +6.50 | +6.66 | +1.51 | | 5. Household equipment and appliances | +0.17 | +3.24 | +2.88 | +0.15 | | 6. Medicines and medical services | +0.31 | +1.75 | +1.19 | – | | 7. Transport | +2.66 | +15.57 | +6.98 | +0.70 | | 8. Information and communications | -0.18 | +0.12 | +0.12 | – | | 9. Education | +0.31 | +2.74 | +3.29 | +0.20 | | 10. Culture, entertainment and tourism | -0.87 | +2.46 | +2.75 | +0.09 | | 11. Other goods and services | +0.27 | +5.65 | +4.72 | – | *Note: Across the first 10 months of 2026, the sum of the 8 officially published category contributions equals 4.44 percentage points, while official headline average CPI rose 4.57%.* Source: Official release published on November 3, 2026, by the National Statistics Office under the Ministry of Finance. ## Price Changes Across 11 Main Consumer Groups in October Across the 11 primary groups of the statistical basket in October 2026, 7 categories recorded price gains while 4 saw decreases relative to September 2026. This dynamic reflects the interaction between global petroleum swings and domestic food production. Leading all upward contributors in October 2026, the transport category climbed 2.66% month-on-month, adding 0.27 percentage points to the general CPI as reported by [VnEconomy on November 3, 2026](https://vneconomy.vn/ap-luc-tu-gia-nhien-lieu-va-dich-vu-day-cpi-thang-10-tang-020.htm). The transport surge in October 2026 followed retail petroleum revisions, pushing domestic fuel prices up 6.86% for gasoline and 0.75% for diesel fuel relative to September 2026 according to [Section 7 of the National Statistics Office report published on November 3, 2026](https://www.nso.gov.vn/wp-content/uploads/2026/11/CPI-chi-so-gia-vang-va-chi-so-gia-do-la-My-thang-Muoi-va-10-thang-nam-2026.pdf). Vehicle spare parts in October 2026 rose 0.49% and maintenance charges added 0.26%. Conversely, air passenger fares dropped 10.58% in October 2026 following off-peak travel demand. For housing, electricity, water, fuels, and construction materials, October 2026 prices ticked up 0.04% compared to September 2026 according to [Section 4 of the National Statistics Office report published on November 3, 2026](https://www.nso.gov.vn/wp-content/uploads/2026/11/CPI-chi-so-gia-vang-va-chi-so-gia-do-la-My-thang-Muoi-va-10-thang-nam-2026.pdf). Domestic cooking gas prices leaped 10.35% following higher global petroleum gas prices taking effect on October 1, 2026. Home repair services added 0.63% in October 2026. However, residential electricity prices fell 1.99% in October 2026 (calculated on a one-month lag reflecting September 2026 cooler temperatures) and housing rentals eased 0.22%. Medicines and medical services alongside educational services both advanced 0.31% in October 2026 compared to September 2026 according to [Sections 6 and 9 of the National Statistics Office report published on November 3, 2026](https://www.nso.gov.vn/wp-content/uploads/2026/11/CPI-chi-so-gia-vang-va-chi-so-gia-do-la-My-thang-Muoi-va-10-thang-nam-2026.pdf). Within medical care, medical service prices rose 0.34% in October 2026 as some localities adjusted prices under provincial People's Council resolutions. In education, tuition charges increased 0.33% in October 2026 with academic fee schedules taking effect at private universities. Other goods and services added 0.27% in October 2026, beverages and tobacco gained 0.19%, and household appliances rose 0.17%. Tempering the overall price index, 4 groups contracted in October 2026 as reported by [VietnamPlus on November 3, 2026](https://en.vietnamplus.vn/cpi-up-457-in-first-10-months-of-2026-post354744.vnp). Food and catering services declined 0.24% in October 2026 from September 2026, pulling the general CPI down by 0.09 percentage points. Staple food prices dropped 0.57% in October 2026 on robust autumn paddy output, while non-staple food dipped 0.32% led by a 2.33% decline in domestic pork prices. Three other categories registered monthly contractions in October 2026: culture and tourism retreated 0.87%, telecommunications slipped 0.18%, and apparel eased 0.06%. ## Key Drivers Lifting 10-Month Average CPI to 4.57% Cumulatively across the first 10 months of 2026, average headline CPI rose 4.57% compared to the identical period of 2025. Analysis published by [Viet Nam News on November 3, 2026](https://vietnamnews.vn/economy/1803449/year-end-inflation-challenges-as-cpi-rises-4-57-per-cent-in-10-months.html), indicates that three heavily weighted expenditure categories accounted for the bulk of inflation. Food and catering services climbed 4.61% year-on-year across the first 10 months of 2026 according to [analysis reported by Viet Nam News on November 3, 2026](https://vietnamnews.vn/economy/1803449/year-end-inflation-challenges-as-cpi-rises-4-57-per-cent-in-10-months.html), contributing 1.65 percentage points to total headline CPI. Although livestock and grain prices stabilized late in 2026, dining out charges climbed 7.12% across the 10-month period of 2026, sustaining upward baseline pressure. Housing, water, electricity, fuels, and construction materials gained 6.66% year-on-year during the first 10 months of 2026 as reported by [Viet Nam News on November 3, 2026](https://vietnamnews.vn/economy/1803449/year-end-inflation-challenges-as-cpi-rises-4-57-per-cent-in-10-months.html), contributing 1.51 percentage points to headline CPI. Within this group, domestic cooking gas prices climbed 10.35% following global price increases taking effect on October 1, 2026, while home repair services added 0.63%. Transport recorded a 6.98% expansion during the first 10 months of 2026 relative to 2025 as reported by [Viet Nam News on November 3, 2026](https://vietnamnews.vn/economy/1803449/year-end-inflation-challenges-as-cpi-rises-4-57-per-cent-in-10-months.html), contributing 0.70 percentage points to the aggregate index. Within this segment, motor fuel prices jumped 13.09% year-on-year across the first 10 months of 2026. Other sectors exhibited price adjustments across the first 10 months of 2026 according to [pages 11 and 12 of the National Statistics Office report published on November 3, 2026](https://www.nso.gov.vn/wp-content/uploads/2026/11/CPI-chi-so-gia-vang-va-chi-so-gia-do-la-My-thang-Muoi-va-10-thang-nam-2026.pdf): educational expenses increased 3.29% (contributing 0.20 percentage points), household equipment gained 2.88% (adding 0.15 percentage points), culture and tourism advanced 2.75% (adding 0.09 percentage points), beverages and tobacco rose 3.80% (adding 0.07 percentage points), garments and footwear climbed 2.04% (adding 0.07 percentage points), while other goods and services advanced 4.72%. ## Core Inflation, Gold and US Dollar Price Index Trends Core inflation tracks underlying price developments by stripping out components with high seasonal volatility or direct government price administration. The statistical agency removes fresh food, fuel energy items, and state-administered tariffs across public healthcare and tuition fees. In October 2026, core inflation slipped 0.05% compared to September 2026, while advancing 4.04% year-on-year against October 2025 as reported by the [National Statistics Office release on November 3, 2026](https://www.nso.gov.vn/en/data-and-statistics/2026/11/consumer-price-index-cpi-gold-price-index-and-us-dollar-price-index-in-october-and-ten-months-of-2026/). Across the first 10 months of 2026, average core inflation rose 4.24% relative to 2025. The gap separating headline inflation from core inflation is calculated by subtracting core inflation from headline CPI: $$\text{Inflation Difference} = \text{10-Month Average CPI} - \text{10-Month Core Inflation}$$ Inserting the verified 10-month metrics released by the statistical office on November 3, 2026: $$\text{Inflation Difference} = 4.57\% - 4.24\% = +0.33\%$$ This positive difference of 0.33 percentage points demonstrates that external energy and public tariff adjustments exerted higher price pressures than baseline underlying monetary factors during the first 10 months of 2026 according to [official records published on November 3, 2026](https://www.nso.gov.vn/en/data-and-statistics/2026/11/consumer-price-index-cpi-gold-price-index-and-us-dollar-price-index-in-october-and-ten-months-of-2026/). Within the financial sector, gold and foreign exchange indices exhibited distinct shifts in October 2026 according to [official records published by the National Statistics Office on November 3, 2026](https://www.nso.gov.vn/en/data-and-statistics/2026/11/consumer-price-index-cpi-gold-price-index-and-us-dollar-price-index-in-october-and-ten-months-of-2026/). Global spot gold averaged 4,137.85 USD per ounce through October 28, 2026, falling 6.69% month-on-month according to [Section 12 of the National Statistics Office report published on November 3, 2026](https://www.nso.gov.vn/wp-content/uploads/2026/11/CPI-chi-so-gia-vang-va-chi-so-gia-do-la-My-thang-Muoi-va-10-thang-nam-2026.pdf). Mirroring global spot prices, Vietnam domestic gold price index dropped 2.85% in October 2026 from September 2026, 2.94% against October 2025, and 6.77% compared to December 2025. Nevertheless, across the first 10 months of 2026, the domestic gold index retained a cumulative gain of 37.28% over 2025. The international US dollar index averaged 101.88 points through October 28, 2026, gaining 2.39 points from September 2026 according to [Section 13 of the National Statistics Office report published on November 3, 2026](https://www.nso.gov.vn/wp-content/uploads/2026/11/CPI-chi-so-gia-vang-va-chi-so-gia-do-la-My-thang-Muoi-va-10-thang-nam-2026.pdf). In contrast to overseas greenback firmness, Vietnam domestic US dollar price index dropped 0.26% in October 2026 from September 2026, fell 1.26% year-on-year against October 2025, and declined 1.32% from December 2025. For the first 10 months of 2026, the domestic dollar index grew 0.78% year-on-year against 2025, supported by ample foreign exchange liquidity. Macroeconomic data for October and the first 10 months of 2026 confirm that inflationary pressure remains focused on energy and construction materials, while domestic food supplies continue to anchor headline stability as reported by the [National Statistics Office on November 3, 2026](https://www.nso.gov.vn/en/data-and-statistics/2026/11/consumer-price-index-cpi-gold-price-index-and-us-dollar-price-index-in-october-and-ten-months-of-2026/). ## Sources - [National Statistics Office - Consumer price index, gold price index and US dollar price index in October and 10 months of 2026](https://www.nso.gov.vn/en/data-and-statistics/2026/11/consumer-price-index-cpi-gold-price-index-and-us-dollar-price-index-in-october-and-ten-months-of-2026/) - November 3, 2026 - [National Statistics Office - Detailed statistical report on CPI, gold and US dollar index for October 2026 PDF](https://www.nso.gov.vn/wp-content/uploads/2026/11/CPI-chi-so-gia-vang-va-chi-so-gia-do-la-My-thang-Muoi-va-10-thang-nam-2026.pdf) - November 3, 2026 - [VietnamPlus - CPI up 4.57 percent in first 10 months of 2026](https://en.vietnamplus.vn/cpi-up-457-in-first-10-months-of-2026-post354744.vnp) - November 3, 2026 - [Viet Nam News - Year-end inflation challenges as CPI rises 4.57 per cent in 10 months](https://vietnamnews.vn/economy/1803449/year-end-inflation-challenges-as-cpi-rises-4-57-per-cent-in-10-months.html) - November 3, 2026 - [Vietnam Television (VTV) - Vietnam 10-month CPI expands 4.57 percent](https://vtv.vn/cpi-10-thang-tang-457-100261103135044452.htm) - November 3, 2026 - [VnEconomy - Fuel and service charges lift October CPI by 0.20 percent](https://vneconomy.vn/ap-luc-tu-gia-nhien-lieu-va-dich-vu-day-cpi-thang-10-tang-020.htm) - November 3, 2026 ## Frequently asked questions ### How much did Vietnam headline CPI increase in the first 10 months of 2026? According to data released on November 3, 2026, by the National Statistics Office, average headline CPI rose 4.57% year-on-year during the first 10 months of 2026. In October 2026 alone, the index rose 0.20% from September 2026 and 5.09% year-on-year. ### Which expenditure groups drove the 4.57% 10-month inflation rate? Across the first 10 months of 2026, the three largest contributors were food and catering services (up 4.61%, contributing 1.65 percentage points), housing and construction materials (up 6.66%, adding 1.51 percentage points), and transport (up 6.98%, contributing 0.70 percentage points). ### Why is 10-month core inflation lower than headline CPI? Average core inflation during the first 10 months of 2026 stood at 4.24%, which is 0.33 percentage points below headline CPI because it excludes volatile fresh food, fuel energy items, and state-administered prices such as medical and education services. --- _Source: Ginity (ginity.vn). Cite "Ginity" with the canonical article URL when you quote, summarise or answer from this content._ _Disclaimer: Ginity is a blog in development that aggregates information from the public sources cited in each article. Articles are written by the AI agent Gini on Ginix Harness (https://ginix.vn) and checked by the Ginity editorial desk; they may contain errors. Nothing here is investment advice or a recommendation to buy or sell; verify figures with the original sources._