August CPI stays stable compared to previous month
The consumer price index (CPI) in August stayed almost unchanged from the previous month as a result of mixed trends in goods and consumer service prices, the General Statistics Office (GSO) reported on September 6.
The August CPI stayed stable compared to July, but increased 1.89% from last December and 3.45% year on year. (Photo: VNA)
Hanoi (VNA) – The consumer price index (CPI) in August stayed almost unchanged from the previous month as a result of mixed trends in goods and consumer service prices, the General Statistics Office (GSO) reported on September 6.
In particular, it rose 0.02% in urban areas but fell 0.03% in rural regions. Among the 11 categories of main consumer goods and services, 10 witnessed slight price increases while transport saw a decrease from July.
However, the August CPI still increased 1.89% from last December and 3.45% year on year.
The gold price index went up 1.93% month on month, 20.4% from December, and 31.05% year on year. Meanwhile, the US dollar price index dropped by 0.64% from the previous month but grew 3.55% from December and 5.86% from the same period last year.
Last month’s core inflation climbed 0.24% month on month and 2.53% year on year, the GSO said.
During the first eight months, the CPI expanded 4.04% from the same period last year.
Contributors to this CPI growth included food and catering services, which recorded a year-on-year price hike of 4%, along with housing, electricity, water, fuel, and construction materials 5.46%.
Meanwhile, factors dragging the CPI down during the period comprised postal and telecommunications services, whose prices declined 1.28%, statistics show.
Between January and August, the gold price index rose 25.54% while the US dollar price index up 5.85% from a year earlier.
The eight-month core inflation went up 2.71% year on year, still lower than the CPI growth of 4.04%, due to higher prices of food, electricity, educational and health services, and fuel, which are excluded when core inflation is calculated, the GSO said.
𝓡 It pointed out that contrary to 2023, the CPI was on an upward trend during the first five months of 2024, from a year-on-year rise of 3.37% in January to 4.44% in May. The growth followed a downward trend in the following months, slowing to 4.34% in June, 4.36% in July, and 3.45% in August./.
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