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CPI experiences slight rise in July

Vietnam’s consumer price index (CPI) in July rose again by 0.11 percent, following the rebound of food prices, according to the General Statistics Office (GSO).
CPI experiences slight rise in July ảnh 1CPI experiences slight rise in July (Photo: VNA)
Hanoi (VNA) - Vietnam’s consumer price index (CPI) in July rose again by0.11 percent, following the rebound of food prices, according to the GeneralStatistics Office (GSO).

The rise was reported after the index slid or remained unchanged for threemonths. In April, the monthly CPI remained unchanged, and it dropped by 0.53percent and 0.17 percent in May and June, respectively.

Compared to the same period last year, the index increased 2.52 percent, theoffice reported.

However, the monthly rise of CPI in July was still the lowest in the past nineyears. The figure from 2008 to 2016 was between 0.13 percent and 1.17 percent.

According to deputy director of GSO’s Consumer Price Index Department Do ThiNgoc, the increase in CPI for July was mainly driven by the 3.19 percent pricehike of food, including the increase in the price of pork, following six-monthsof declining prices, and the price rise in vegetables due to the impact ofrainstorms and floods.

Pork prices are from 40,000 VND to 49,000 VND (1.8-2.1 USD) per kilo,increasing from 25,000 VND per kilo of the last three months followingprogrammes to stimulate demand and to control the number of pigs raised byfarmers, according to the Ministry of Agriculture and Rural Development.

Besides this, another reason was the higher prices of housing and constructionmaterials, which was due to the tightened management of sand mining inlocalities, resulting in a higher price for sand, Ngoc said, adding that thegood item saw a rise of 1.07 percent in July.

The 0.46 percent rise in medicine and health care services also contributed tothe country’s average CPI, she said.

In addition to this, the entrance exams to the 10th grade and the national highschool graduation exams held in July helped boost the demand for dining out andbeverages, contributing to the CPI increase. The good item rose by 0.54 percent in July.

Besides the above good items, July also saw another five out of the 11 groupsof goods and services used to calculate the CPI posted price increases,including apparel, hats and footwear, up 0.04 percent; beverages andcigarettes, up 0.04 percent; education, up 0.05 percent; household equipmentand appliances, up 0.09 percent; and goods and other services, up 0.73 percent.

Meanwhile, the remaining three groups of goods and services suffered pricedecreases, namely traffic, down 1.52 percent; post and telecommunications, down0.06 percent; and culture, entertainment and tourism, down 0.03 percent.-VNA
VNA
#consumer price index #CPI #General Statistics Office #price hike #Ministry of Agriculture and Rural Development #housing #construction materials #food #medicine #health care services #high school graduation exams #beverages #goods #services #post and telecommunications
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