Consumer price index up by 4.08% in six months: GSO

VIETNAM, June 30 - HÀ NỘI — Việt Nam's consumer price index (CPI) rose by 4.08 per cent in the first half compared to the same period last year, while core inflation increased by 2.75 per cent, according to the General Statistics Office (GSO).

The GSO defined several factors contributing to the CPI growth, which included the respective annual 4 per cent and 5.51 per cent increases of the price indexes for the groups of food and food services as well as of housing, electricity, water, fuel, and construction materials.

Meanwhile, household electricity prices jumped 9.45 per cent due to higher demand and adjustments in the average retail price of electricity by the Vietnam Electricity (EVN) group in 2023.

The price indexes for the education group rose by 8.58 per cent as a result of higher tuition fees in some localities during the 2023-24 academic year, and that for medicines and healthcare services grew 7.07 per cent following adjustments in healthcare service fees.

In contrast, the index for the postal and telecommunications group decreased by 1.41 per cent year-on-year, as the prices of older generation phones dropped when businesses applied discount programmes to promote smart phones in the market.

The GSO largely attributed the growth of core inflation to rising costs of food, electricity, education, and healthcare services, which are excluded from its calculation.

Recently, the Government and the Prime Minister have directed ministries, sectors, and localities to implement various measures to resolve difficulties, promote growth, maintain macroeconomic stability, control inflation, and closely monitor the supply-demand and prices of essential goods to implement appropriate measures, said GSO General Director Nguyễn Thị Hương.

Consequently, no unusual price fluctuations were recorded, and inflation remained under control, she noted. — VNS