HCMC – Vietnam’s consumer price index (CPI) in July rose by 0.11% compared to the previous month and 3.19% against the same period last year, according to a report on the nation’s economic and social performance by the General Statistics Office.
The rise was mainly driven by higher prices for housing maintenance materials, food, and dining out.
In July, core inflation went up by 0.21% from the previous month and by 3.3% year-on-year.
During the January-July period, the average CPI expanded by 3.26% year-on-year, a level considered manageable. This result reflects the Government’s effective macroeconomic management and its efforts to keep prices stable.
Core inflation, which excludes food, fresh foodstuffs, energy, and state-regulated goods such as healthcare and education services, rose by just 3.18% over the same period, lower than the average CPI.
Deputy Prime Minister Ho Duc Phoc recently chaired a meeting on price management, where the Ministry of Finance cautioned that prices may rise in the coming months due to higher costs for imported materials, construction inputs, essential goods, and the impacts of climate change.
The ministry forecasts that the average CPI for the last five months of the year will increase by 3.7-4.0%. Several international organizations estimate that Vietnam’s inflation will range from 2.9% to 4.2%.
Deputy PM Phoc has instructed ministries, sectors, and localities to closely monitor price movements of essential goods such as fuel, electricity, rice, and meat, so that timely and appropriate management measures can be implemented.
