July CPI increases 0.13 percent month on month
The July consumer price index (CPI) CPI rose 0.13 percent against June, 2.39 percent year on year and 2.48 percent compared to December 2015, the General Statistics Office (GSO) reported on July 24.
The average CPI for the first seven months of this year increased 1.82 percent from the same period last year.
An upward trend was seen in five out of 11 goods and service groups, of which transport recording the highest rise at 1.19 percent, followed by goods and other services at 0.17 percent, housing and construction materials at 0.14 percent, beverage and cigarette 0.09 percent, and home appliances 0.06 percent.
The restaurant and food catering group saw prices dropping 0.05 percent while the post and telecommunications group posted a 0.1 percent decrease.
Deputy head of the Price Statistics Department Do Thi Ngoc said the growth of July’s CPI was due to increases in fuel prices and train tickets.
Meanwhile, hot weather also drove up prices of water and electricity by 0.14 percent and 1.16 percent, respectively. The scorching summer also pushed up the prices of some cooling products such as air conditioners, fridges and electric fans, she added.
The prices of food in the month reduced 0.64 percent against the month before due to abundant of domestic food supply.
The GSO evaluated that core inflation (the CPI without food and fresh foodstuff, energy and State-controlled commodities such as healthcare and education services) in the month increased 0.1 percent month-on-month and 1.85 percent year-on-year. The seven-month core CPI rose 1.81 percent from the same period last year.
The GSO also anticipated that the CPI of August will grow slightly due to rising prices of health services, school fees and school supplies.
An upward trend was seen in five out of 11 goods and service groups, of which transport recording the highest rise at 1.19 percent, followed by goods and other services at 0.17 percent, housing and construction materials at 0.14 percent, beverage and cigarette 0.09 percent, and home appliances 0.06 percent.
The restaurant and food catering group saw prices dropping 0.05 percent while the post and telecommunications group posted a 0.1 percent decrease.
Deputy head of the Price Statistics Department Do Thi Ngoc said the growth of July’s CPI was due to increases in fuel prices and train tickets.
Meanwhile, hot weather also drove up prices of water and electricity by 0.14 percent and 1.16 percent, respectively. The scorching summer also pushed up the prices of some cooling products such as air conditioners, fridges and electric fans, she added.
The prices of food in the month reduced 0.64 percent against the month before due to abundant of domestic food supply.
During the month, gold prices fluctuated with the world’s gold prices and hit nearly VND40 million (US$1,800) per tael at a time but then quickly dipped and remained stable at around VND36 million per tael.
The VND/USD exchange rate remained stable at VND22,300 per USD.
The GSO evaluated that core inflation (the CPI without food and fresh foodstuff, energy and State-controlled commodities such as healthcare and education services) in the month increased 0.1 percent month-on-month and 1.85 percent year-on-year. The seven-month core CPI rose 1.81 percent from the same period last year.
The GSO also anticipated that the CPI of August will grow slightly due to rising prices of health services, school fees and school supplies.
