CPI jumps slightly in July

VGP – The consumption price index posted a month-on-month growth of 0.11% in July, the record low over the last five years, the General Statistics Office (GSO) reported.

July 31, 2017 9:25 AM GMT+7

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Specifically, eight out of the 11 groups of goods and services witnessed rising prices, including goods and other services (up 0.73%); restaurants and services (up 0.54%); medicines and health services (up 0.36%); equipment and household utensils (up 0.09%); education (up 0.05%); beverage and tobacco (0.04%); garments and textiles, hats, and footwear (up 0.04%); housing and material building (up 0.03%).

Only three groups saw declining prices, including transport (down 1.52%); post and telecom (0.06%); culture, entertainment, and tourism (0.03%).

Experts attributed the CPI hike to rebounding cost of pork (up 3.19%), and floods and storms which led to higher price of vegetables (2.56%).

On the contrary, abundant food supply and lower petrol prices led to a cut of 0.14% of CPI.

The Department of Price Statistics reported that basic inflation saw a month-on-month surge of 0.11% and a year-on-year increase of 1.3%./.

By Kim Anh