April’s CPI increases 0.18%

The consumer price index (CPI) in April rose 0.18% over the previous month and 2.64% year on year, according to the General Statistics Office (GSO).

The office said that increases in the prices of construction materials, catering and tourism service, and the recovery in education service cost after a period of applying tuition reduction in many localities after COVID-19 is controlled are among factors causing the rise in CPI.

The average CPI for the first four months of this year rose 2.1% year on year, higher than 0.89% recorded in the same period last year, but lower than the increases in the January-April period in 2017-2020. The core inflation was also up 0.97%.

In April, among 11 major groups of goods and services, eight saw an increase in prices, while three others saw a decrease.

The head of the GSO said that the hike in petrol prices is the major factor pushing up CPI in the first four months of this year, adding that so far, domestic petrol prices surged 48.84% year on year, which led to 1.76 percentage points rise in CPI.

Following the petrol price, gas price also increased 24.6% year on year, contributing to pushing the CPI up by 0.36 percentage points.

Meanwhile, the price of materials for house upgrading in four months increased 8.51%, while that of rice went up 0.98%, and restaurant service was up 3.17%.

On the other hand, in the first four months of this year, downturn was seen in the prices of food (0.94%), processed meat (4.48%), education service (3.93%).

Domestic gold price rose 0.73% over the previous month and 12.28% year on year in April, and 5.56% year on year in the first four months of 2022. Meanwhile, US dollar price in Vietnam also saw year on year rise of 0.64% in April and 0.66% in January-April period.