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Friday, June 21, 2024

Vietnam’s CPI surges 3.93% in Jan-Apr

The Saigon Times

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HCMC – The consumer price index (CPI) in Vietnam has edged up by 3.93% year-on-year in the first four months of this year, with core inflation increasing by 2.81%, said the General Statistics Office (GSO).

Released on Friday, April 29, a GSO report provides insights into the nation’s socio-economic performance in April and the first four months of 2024.

April has seen a slight uptick of 0.07% in the CPI compared to the previous month, with urban areas rising by 0.07% and rural areas by 0.08%.

Among the 11 main groups of goods and services used for CPI calculation in April, eight have marked up in price while three have declined. Specifically, the transportation group has seen the most significant increase, at 1.95% versus last month, contributing a 0.19 percentage point increase to the CPI. This is primarily driven by a 4.78% surge in domestic gasoline prices, which accounts for a 0.17 percentage point increase in the CPI.

Meanwhile, education has experienced the sharpest price decline in April, at 2.93% compared to the previous month, contributing to a 0.18 percentage point decrease in the CPI, mainly due to adjustments in tuition fees following Decree No. 97/2023/ND-CP issued by the Government on December 31, 2023.

In comparison to the same period last year, the CPI in April has inched up by 4.4%.

The education group has seen the highest increase, at 8.31%, followed by the pharmaceutical and healthcare services group, which has increased by 7.44%, and the transportation group, which has risen by 4.24%.

Still, the telecommunications group has marked up by 1.5% in price year-on-year due to a reduction in prices of older-generation mobile phones.

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