Vietnam’s consumer price index (CPI) was at 10-year low in July,gaining only 0.68 percent from the end of 2014, the General StatisticsOffice (GSO) revealed on July 24.
This month’s CPIincreased by 0.13 percent month-on-month and 0.9 percent year-on-year.The average figure for the first seven months was 0.86 percent annually.
Deputy Director of the GSO’s Price StatisticsDepartment Do Bich Ngoc said the monthly CPI rise in July was the lowestin a decade.
She said the July CPI gain was fuelledmostly by high school entrance and graduation examinations along withthe hot weather, which fanned the expenses of daily electricity use upby 1.32 percent and water by 0.22 percent.
Meanwhile, the augmentation of medical service prices in some districtsof Ho Chi Minh City since July 1 contributed to a monthly 0.15 percenthike in medical service expenses nationwide.
Nine ofthe 11 key goods and service categories had their prices spike in July.The biggest pace – 0.25 percent – was recorded in the prices ofapparel, hats and footwear. Consumer demand for these commoditiestraditionally grows in July and August in preparation for the new schoolyear that begins in late August and early September, the GSO explained.
The slowest rise – 0.1 percent – was in food andrestaurant services, housing and building material category was 0.22percent, beverage and tobacco at 0.18 percent, household equipment andutensils at 0.14 percent and transport at 0.16 percent.
Education prices remained nearly unchanged while those of the postaland telecommunications services declined 0.02 percent.
The GSO also pointed out factors that helped curb inflation momentumin July such as the relatively stable prices of staple goods in theworld, abundant domestic food supply and the reduction of fuel gas andkerosene prices.
July’s core inflation – the CPIexcluding fresh food, energy and State-controlled commodities likemedical and educational services – hiked up 0.13 percent from last monthand 2.04 percent from a year before.
Ngoc forecasta slight growth in the August CPI due to an increased demand for foodsin preparation for traditional festivals in the seventh and eighth lunarmonths.
Prolonged hot weather will beef up theconsumption of electricity and water while tuition fees at some collegesand universities are also expected to rise. Prices of several importedgoods are likely to climb as the USD could appreciate against othercurrencies, thus contributing to the August CPI gain, she added.-VNA
This month’s CPIincreased by 0.13 percent month-on-month and 0.9 percent year-on-year.The average figure for the first seven months was 0.86 percent annually.
Deputy Director of the GSO’s Price StatisticsDepartment Do Bich Ngoc said the monthly CPI rise in July was the lowestin a decade.
She said the July CPI gain was fuelledmostly by high school entrance and graduation examinations along withthe hot weather, which fanned the expenses of daily electricity use upby 1.32 percent and water by 0.22 percent.
Meanwhile, the augmentation of medical service prices in some districtsof Ho Chi Minh City since July 1 contributed to a monthly 0.15 percenthike in medical service expenses nationwide.
Nine ofthe 11 key goods and service categories had their prices spike in July.The biggest pace – 0.25 percent – was recorded in the prices ofapparel, hats and footwear. Consumer demand for these commoditiestraditionally grows in July and August in preparation for the new schoolyear that begins in late August and early September, the GSO explained.
The slowest rise – 0.1 percent – was in food andrestaurant services, housing and building material category was 0.22percent, beverage and tobacco at 0.18 percent, household equipment andutensils at 0.14 percent and transport at 0.16 percent.
Education prices remained nearly unchanged while those of the postaland telecommunications services declined 0.02 percent.
The GSO also pointed out factors that helped curb inflation momentumin July such as the relatively stable prices of staple goods in theworld, abundant domestic food supply and the reduction of fuel gas andkerosene prices.
July’s core inflation – the CPIexcluding fresh food, energy and State-controlled commodities likemedical and educational services – hiked up 0.13 percent from last monthand 2.04 percent from a year before.
Ngoc forecasta slight growth in the August CPI due to an increased demand for foodsin preparation for traditional festivals in the seventh and eighth lunarmonths.
Prolonged hot weather will beef up theconsumption of electricity and water while tuition fees at some collegesand universities are also expected to rise. Prices of several importedgoods are likely to climb as the USD could appreciate against othercurrencies, thus contributing to the August CPI gain, she added.-VNA
