Major contributors to the four-month CPI hike included food and catering services, which rose by 3.86% year-on-year and contributed 1.3 percentage points to the overall CPI growth, according to the National Statistics Office.
In response to these trends, economic experts have recommended Hanoi to implement a range of measures to manage inflation in the coming months. They emphasised the need to strengthen price monitoring of essential goods, particularly food, fuel, pharmaceuticals, and healthcare services.
Economists said Singapore's inflation will continue to ease in the months ahead, with a chance that consumer prices might even drop if the global economy takes a sharp turn downwards.
The main drivers behind the CPI increase were pork price surges caused by supply shortages, along with higher costs for dining out, rents, and transport services due to growing consumer demand.
High consumption demand during the Lunar New Year holiday, and the strong tourism recovery fuelled retail sales of consumer goods and services in January.
Vietnam’s GDP was estimated to expand 7.1% in 2024, surpassing the Government’s 6.5% target, thanks to supportive monetary policies and strong retail sales.
Adjusted healthcare fees, and higher transportation costs and food prices, driven by increased demand during the Lunar New Year holiday, led to a 0.98% rise in the Consumer Price Index, CPI, in January compared to the previous month.
Price adjustments under the Ministry of Health’s Circular 21/2024/TT-BYT, coupled with soaring demand for medical examinations and treatment due to adverse weather, increased pharmaceutical and health service prices in January by 9.47% compared to the previous month.
Such factors as adjusted healthcare fees, and higher transportation costs and food prices led to a 0.98% rise in the Consumer Price Index (CPI) in January.
The 3.63% increase in the consumer price index (CPI) for the whole of 2024 not only reflects the Government's efforts in price management, but also demonstrates the economy's resilience against external "headwinds".
Vietnam’s consumer price index (CPI) in 2024 rose 3.63% year-on-year, meeting the target set by the National Assembly (NA), the General Statistics Office (GSO) reported on January 6.
Vietnam's consumer price index (CPI) for November rose by 0.13% from the previous month and 2.77% compared to the same period last year, announced the General Statistics Office (GSO) on December 6.
Hanoi’s consumer price index (CPI) in September rose 0.66% from the previous month, and 2.01% from a year earlier, according to the city’s Statistics Office.