Retail

Vietnam's consumer price index up 4.08% YoY in H1 2024

02 Jul '24

1 min read

Vietnam's consumer price index up 4.08% YoY in H1 2024

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Vietnam's consumer price index rose by 4.08 per cent YoY in H1 2024, while core inflation rose by 2.75 per cent.
Factors contributing to the growth include the respective annual 4 per cent and 5.51 per cent hikes in the CPI for food and food services.
The core inflation growth was due to rising costs of food, electricity, education and healthcare services.

Vietnam’s consumer price index (CPI) increased by 4.08 per cent year on year (YoY) in the first half (H1) this year, while core inflation rose by 2.75 per cent, the general statistics office (GSO) said.

Factors contributing to the CPI growth include the respective annual 4 per cent and 5.51 per cent increases in the price indices for the groups of food and food services, the GSO noted. The indices of housing, electricity, water, fuel and construction materials rose as well.

Household electricity prices rose by 9.45 per cent due to higher demand and adjustments in the average retail price of electricity by the Vietnam Electricity (EVN) group last year.

The growth of core inflation was attributed to rising costs of food, electricity, education and healthcare services, according to domestic media reports.

As the government and the Prime Minister had directed ministries, sectors and localities to implement measures to resolve difficulties, promote growth, maintain macroeconomic stability, control inflation and closely monitor the supply-demand and prices of essential goods, no unusual price fluctuations were recorded and inflation remained under control, said GSO general director Nguyen Thi Huong.

Fibre2Fashion News Desk (DS)

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