HCMC – Vietnam’s consumer price index (CPI) has picked up by 4.12% in the first seven months of this year against the same period last year, according to data from the General Statistics Office (GSO).
The CPI this month has edged up by 0.48% against June and 1.89% versus December 2023. Compared to July 2023, it has increased by 4.36%. Core inflation, which excludes volatile items, has grown by 2.73%.
Nguyen Thu Oanh, head of the GSO’s Price Statistics Department, attributed the July CPI increase to several factors, including domestic fuel prices, increased household electricity demand, and adjusted health insurance contributions based on new salaries.
“Core inflation for the first seven months has risen by 2.73% year-on-year, lower than the average CPI increase of 4.12%, primarily due to the exclusion of items like food, electricity, education, healthcare, and fuel from the core inflation calculation,” she said.
The urban CPI has expanded by 0.43%, while the rural CPI has inched up by 0.52% in July against the same month last year.
Among the 11 main groups of goods and services used for CPI calculation in July, prices have risen in 10 groups, with telecommunications remaining unchanged.
Prices for accommodation and construction materials have increased by 0.5%, driven by a 1.39% rise in electricity tariffs and a 0.22% increase in water prices. Kerosene prices have surged by 4.02% due to price adjustments during the month. Rent prices have inched up by 0.2%, and housing maintenance materials have seen a 0.08% increase.
Transport costs have increased by 1.45%, contributing 14 basis points to the overall CPI, while food and dining services prices have risen by 0.26% from June, adding nine basis points.
Prices for other goods and services have jumped by 3.77%, mainly due to a 28.45% rise in health insurance premiums following the adjustment of the base salary from VND1.8 million to VND2.34 million.
