July CPI increases 0.13 percent month on month

The average CPI for the first seven months of this year increased 1.82 percent from the same period last year.

An upward trend was seen in five out of 11 goods and service groups, of which transport recording the highest rise at 1.19 percent, followed by goods and other services at 0.17 percent, housing and construction materials at 0.14 percent, beverage and cigarette 0.09 percent, and home appliances 0.06 percent.

The July CPI rose 0.13 percent against June

The restaurant and food catering group saw prices dropping 0.05 percent while the post and telecommunications group posted a 0.1 percent decrease.

Deputy Head of the Price Statistics Department Do Thi Ngoc said the growth of July's CPI was due to increases in fuel prices and train tickets.

Meanwhile, hot weather also drove up prices of water and electricity by 0.14 percent and 1.16 percent, respectively. The scorching summer also pushed up the prices of some cooling products such as air conditioners, fridges and electric fans, she added.

The prices of food in the month reduced 0.64 percent against the month before due to abundant of domestic food supply.

During the month, gold prices fluctuated with the world's gold prices and hit nearly 40 million VND (1,800 USD) per tael at a time but then quickly dipped and remained stable at around 36 million VND per tael.

The VND/USD exchange rate remained stable at 22,300 VND per USD.

The GSO evaluated that core inflation (the CPI without food and fresh foodstuff, energy and State-controlled commodities such as healthcare and education services) in the month increased 0.1 percent month-on-month and 1.85 percent year-on-year. The seven-month core CPI rose 1.81 percent from the same period last year.

The GSO also anticipated that the CPI of August will grow slightly due to rising prices of health services, school fees and school supplies.

Source: VNA