CPI during first four months at the lowest in last three years

Monday, 2019-04-29 17:16:02
 Font Size:     |        Print

Consumer reaction over African swine fever has partly helped restrain inflation. (Photo: NDO)
 Font Size:     |  

NDO – The average consumer price index (CPI) in the first four months of 2019 increased by 2.71% compared to the same period in 2018, the lowest increase for the first four months of the year in the last three years.

According to the General Statistics Office of Vietnam, increases in gasoline and electricity prices had a direct impact on the increased CPI in April - up 0.31% over the previous month, but consumer reaction over the development of African swine fever and the Government's determination in deploying a flexible monetary policy to maintain macroeconomic stability contributed to curbing inflation.

In the 0.31% increase of CPI in April, 9/11 groups of goods and services witnessed price increases, of which transportation saw the highest increase at 4.29%, mainly due to the influence of two adjustments in gasoline and oil prices during the month.

An upturn was also seen in the prices of housing and construction materials at 0.6%, equipment and household appliances at 0.11%, culture, entertainment and tourism by 0.1%, drinks and cigarettes by 0.08%, apparel, hats and footwear by 0.06%, while education was up 0.05% due to an increase of 0.76% in the price of textbooks, and medicine and health services increased by 0.01%.

The other two groups to witness a decrease in prices included food and catering services by 0.57%, in which grains decreased by 0.39%, mainly due to falling rice prices, and food was down 0.87%, while post and telecommunication fell by 0.07%.

CPI in April 2019 increased by 1% compared to December 2018 and was up by 2.93% compared to the same period last year.

Core inflation in April 2019 increased by 0.09% over the previous month and was up by 1.88% over the same period last year. The average figure for the first four months of this year increased by 1.84% year on year.