Consumer price index (CPI) in the first half of 2024 increased by 4.08%

On June 29, in Hanoi, the General Statistics Office held a press conference to announce the socio-economic situation in the second quarter and the first 6 months of 2024.

Source: General Statistics Office

According to the Report, the average CPI in the second quarter of 2024 increased by 4.39% over the same period in 2023, of which:Education increased by 8.15%; medicine and medical services increased by 7.63%; goods and other services were 6.13%; housing, electricity, water, fuel and construction materials increased by 5.62%; food and catering services increased by 4.48%; transportation increased by 4.28%; beverages and tobacco increased by 2.61%; culture, entertainment and tourism increased by 2.1%; clothing, hats and footwear increased by 1.66%; household appliances and equipment increased by 1.31%. Only post and telecommunications decreased by 1.36%.

In general, the average CPI in the first 6 months of 2024 increased by 4.08% compared to the average in the same period in 2023. The CPI in the first 6 months of this year increased compared to the same period last year due to the following main reasons: The average price index of food and catering services in the first 6 months of 2024 increased by 4% compared to the same period last year; The price index of housing, electricity, water, fuel and construction materials increased by 5.51% compared to the same period in 2023; The price index of education increased by 8.58% because in the 2023-2024 school year, some provinces and centrally run cities increased tuition fees; The price index of medicine and medical services increased by 7.07%, because medical service prices were adjusted from November 17, 2023.

Education is one of the groups with increased CPI (Photo: PV)

In addition to the reasons for the increase in CPI, there are a number of reasons for the decrease in CPI in the first 6 months of 2024, namely: the price index of the postal and telecommunications group in the first 6 months of 2024 decreased by 1.41% compared to the same period in 2023 due to the decrease in the price of old generation phones when businesses applied discount programs to stimulate demand for smartphone lines introduced to the market after a period of time.

According to the General Statistics Office, domestic gold prices are in line with world gold prices. As of June 24, 2024, the average world gold price was at 2,348.27 USD/ounce, down 0.18% compared to May 2024. Domestically, the gold price index in June 2024 decreased by 2.64% compared to the previous month; increased by 18.26% compared to December 2023; increased by 29.51% compared to the same period in 2023; the average in the first 6 months of 2024 increased by 24.02%.

As of June 24, 2024, the US dollar index in the international market reached 104.87 points, down 0.18% compared to the previous month. Domestically, the average US dollar price in the free market was around 25,455 VND/USD. The US dollar price index in June 2024 decreased by 0.04% compared to the previous month; increased by 4.17% compared to December 2023; increased by 7.66% compared to the same period in 2023; the average in the first 6 months of 2024 increased by 5.64%.

The General Statistics Office pointed out that core inflation in June 2024 increased by 0.18% compared to the previous month, up 2.61% compared to the same period in 2023. On average, in the first 6 months of 2024, core inflation increased by 2.75% compared to the same period in 2023, lower than the average CPI (up 4.08%), mainly due to the prices of food, electricity, education services and health services, which are factors affecting the increase in CPI but are in the group of goods excluded from the list of core inflation calculations./.

Source: https://dangcongsan.vn/kinh-te/chi-so-gia-tieu-dung-cpi-nua-dau-nam-2024-tang-4-08-671306.html