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H1 core inflation drops to lowest level since 2011: GSO

The Consumer Price Index (CPI) rose 1.47 percent year-on-year in the first half of 2021, the lowest since 2016, according to the General Statistics Office (GSO).
H1 core inflation drops to lowest level since 2011: GSO ảnh 1The General Statistics Office announces socio-economic figures in the first half of 2021 in a press conference on June 29. (Photo: VNA)
Hanoi (VNA) – The Consumer Price Index (CPI) rose 1.47 percent year-on-yearin the first half of 2021, the lowest since 2016, according to the GeneralStatistics Office (GSO).

Theindex in June edged up 0.19 percent month-on-month, 1.62 percent against lastDecember and 2.41 percent year-on-year, GSO General Director Nguyen Thi Huongtold a press conference in Hanoi on June 29.

Therises are largely due to increases in prices of materials, fuels, electricityand fresh water, Huong explained.

Shesaid core inflation in June inched up 0.07 percent compared to May and 1.14percent from the same period last year. The figure in the first half of theyear rose by 0.87 percent year-on-year. Both June’s and six-month figures arethe lowest since 2011.

Basedon these figures, it is completely feasible to keep the inflation below 4percent this year, Huong stressed.

Theaverage fuel price in H1 surged 17.01 percent year-on-year, pushing the CPI up0.61 percentage point, while rice prices grew 6.97 percent, contributing to arise of 0.18 percentage point in the CPI, she said.

Pricesof construction materials, such as cement, iron, steel, and sand, jumped 5.03percent, adding 0.1 percentage point to the CPI.

Incontrast, H1 prices of food declined 0.39 percent from the same period lastyear, contributing to a 0.08-percentage-point slide of the six-month CPI. It isbecause of drops in prices of staples, for example, pork (down 4.15 percent),and chicken (down 2.04 percent).

Adecrease of 3.06 percent in electricity price in H1 also made the CPI to edgedown 0.1 percentage point.

TheCOVID-19 resurgence has been curbing travel during the first six months of theyear, causing rail tickets and airfares to fall 3.41 percent and 17.05 percent,respectively.

Theaverage gold price spurred 18.06 percent year-on-year between January andJune./.
VNA
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