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Friday, August 12, 2022

July consumer prices rise 0.4%

The Saigon Times

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HCMC – A spike in the prices of some commodities, mainly pork, has pushed Vietnam’s consumer price index (CPI) in July up 0.4% month-on-month, according to statistics released by the General Statistics Office on July 29.

In July, pork prices soared by 4.3% month-on-month, due to a hike in the prices of animal feed.

As of July 25, live pig prices had ranged from VND65,000 to VND72,000 per kilogram, up VND3,000-VND10,000 per kilogram against the previous month. Pork prices also picked up 1.73% month-on-month.

Other food items such as poultry, eggs, cooking oil, sugar and vegetables also got more pricey in July.

The rising travel demand this month also drove up prices of catering services up 1.28% month-on-month, the local media reported.

Due to the fuel price falls in July, transport services charges dropped 2.85% month-on-month, preventing the CPI from rising strongly.

However, the 16 upward fuel price adjustments from January to July, totaling 50%, sent the CPI in the seven-month period up 2.54% year-on-year.

During the January-July period, core inflation, which excludes the prices of food and energy commodities, picked up 1.44% year-on-year.

The General Statistics Office attributed the volatility in the prices of necessities to uncertainty in the prices of food, foodstuffs and fuels.

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