Business

Consumer price index rises 3.29% in H1

Consumer price index (CPI) in the first six months of this year increased 3.29% year on year, while core inflation was estimated to rise 4.74%, said Nguyen Thi Huong, General Director of the General Statistics Office (GSO), at a press conference on June 29.
Consumer price index rises 3.29% in H1 ảnh 1Consumer price index rises 3.29% in H1 (Photo: VNA)
Hanoi (VNA) – Consumer price index (CPI) in thefirst six months of this year increased 3.29% year on year, while coreinflation was estimated to rise 4.74%, said Nguyen Thi Huong, General Directorof the General Statistics Office (GSO), at a press conference on June 29.

The official said that in June alone, CPI rose 0.27% over that ofMay and 2% over the same period last year, mostly due to an increase in theelectricity retail prices. In the month, rise was seen in the prices of 10groups of goods, led by food and catering services at 0.57%. Only post andtelecommunications saw a decrease in prices, she said.

In the second quarter of this year, CPI was up 2.41% year onyear, with a strong rise in prices of construction materials at 6.03% andeducation at 5.81%. In the period, the fall was recorded in prices of two groups –post and telecommunications (0.47%) and transport (8.34%).

In the first half of 2023, education-related prices rose 7.95% yearon year, while the prices of housing and construction materials also increased 6.6%.

Upturn was also seen in the prices of cultural, entertainmentand tourism services at 3.47% due to high demands after the COVID-19 pandemic wascontrolled, along with prices of food and foodstuff at 3.6% due to an increase indemands during the festive season in the beginning of the year. The 3% increasein electricity prices from May 4 also pushed the prices of the product in the people's daily life consumption by 3.12%, contributing 0.1 percentage point to the CPI rise in the first six months ofthis year.

Meanwhile, factors contributing to the slowing down of the CPI rise in the January-June period was afall in the prices of fuels and post and telecommunication services.

According to the GSO, core inflation in June increase 0.24% over May and 4.33%compared to the same period last year, pushing the inflation rate in the firstsix months of this year to 4.74%./.
VNA
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