Consumer price index up 0.4 percent in July

The national consumer price index (CPI) in July grew by 0.4 percent against June and 3.39 percent year-on-year, the General Statistics Office (GSO) reported on July 29.

 

Of the 11 main commodity groups, nine saw prices rise. Transportation increased the most, by 3.91 percent, while housing and construction materials up 0.47 percent; culture, entertainment and tourism 0.3 percent; and goods and other services 0.17 percent.

 

The price of food and catering services and post and telecommunications, meanwhile, fell 0.18 percent and 0.02 percent, respectively.

 

Director of the GSO’s Price Statistics Department Do Thi Ngoc said the CPI rose in July on the back of higher prices of petrol, gas, electricity, and water due to increasing demand.

 

The petrol price increased 9.02 percent during the month, resulting in a 0.37 percent rise in the CPI in July.

 

Meanwhile, the prices of electricity and water increased 2 percent and 0.25 percent month-on-month, respectively.

 

The VND/USD exchange rate lost 0.23 percent during the month.

 

The domestic gold price was around 50 million VND per tael (2,160 USD), or 3.49 percent higher than in June.

 

The average CPI rose 4.07 percent year-on-year between January and July. The seven-month CPI was up 3.63 percent in urban areas and 4.51 percent in rural areas.

 

The GSO said that core inflation (the CPI excluding foodstuffs, fresh food, energy, healthcare, and education) in July and the first seven months of 2020 increased 2.31 percent and 2.74 percent, respectively, against the same period last year.

 

Source: Vietnam News Agency

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