Consumer price index up 0.4% in July

The national consumer price index (CPI) in July grew by 0.4% against June and 3.39% year-on-year, the General Statistics Office (GSO) reported on July 29.

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Of the 11 main commodity groups, nine saw prices rise. Transportation increased the most, by 3.91%, while housing and construction materials up 0.47%; culture, entertainment and tourism 0.3%; and goods and other services 0.17%.

The price of food and catering services and post and telecommunications, meanwhile, fell 0.18% and 0.02%, respectively.

Director of the GSO’s Price Statistics Department Do Thi Ngoc said the CPI rose in July on the back of higher prices  of petrol, gas, electricity, and water due to increasing demand.

The petrol price increased 9.02% during the month, resulting in a 0.37% rise in the CPI in July.

Meanwhile, the prices of electricity and water increased 2% and 0.25% month-on-month, respectively.

The VND/USD exchange rate lost 0.23% during the month.

The domestic gold price was around VND50 million per tael (US$2,160), or 3.49% higher than in June.

The average CPI rose 4.07% year-on-year between January and July. The seven-month CPI was up 3.63% in urban areas and 4.51% in rural areas.

The GSO said that core inflation (the CPI excluding foodstuffs, fresh food, energy, healthcare, and education) in July and the first seven months of 2020 increased 2.31% and 2.74%, respectively, against the same period last year.

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