(MPI) – According to Report No. 146/BC-TCTK on the socio -economic situation in July and the first 7 months of 2024 of the General Statistics Office, domestic gasoline prices increased following world prices, demand for electricity increased, and health insurance premiums were adjusted according to the new basic salary level, which were the main reasons for the consumer price index (CPI) in July 2024 to increase by 0.48% over the previous month. Compared to December 2023, the CPI in July increased by 1.89% and compared to the same period last year, it increased by 4.36%. On average, in the first 7 months of 2024, the CPI increased by 4.12% over the same period last year; core inflation increased by 2.73%.
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| Illustration photo. Source: MPI |
In the 0.48% increase in CPI in July 2024 compared to the previous month, there were 10 groups of goods and services with increased price indexes; only the post and telecommunications group had stable prices. Specifically, the other goods and services group increased by 3.77% mainly due to the 28.45% increase in health insurance prices when the basic salary was adjusted from VND 1.8 million/month to VND 2.34 million/month; the transportation group increased by 1.45%; the housing, electricity, water, fuel and construction materials group increased by 0.5%; the food and catering services group increased by 0.26%.
The culture, entertainment and tourism group increased by 0.14%, of which the price of package tourism services increased by 0.23%; guest houses and hotels increased by 0.43% because students had summer vacation in July, so the demand for travel of agencies, businesses and families increased. The medicine and medical services group increased by 0.13%, of which the price of inpatient examination and treatment increased by 0.19%; outpatient examination and treatment services increased by 0.08%. The beverage and tobacco group increased by 0.11% due to increased consumer demand in hot weather. The household equipment and appliances group increased by 0.07% due to increased labor costs. The garment, hat and footwear group and theeducation group increased by 0.03% and 0.02%, respectively.
In particular, the postal and telecommunications group kept prices stable because businesses and establishments continued to implement promotional programs to stimulate shopping.
Core inflation in July 2024 increased by 0.36% over the previous month and by 2.61% over the same period last year.
On average, in the first 7 months of 2024, core inflation increased by 2.73% over the same period in 2023, lower than the average CPI (up 4.12%), mainly due to the prices of food, foodstuffs, electricity, education services, medical services and gasoline, which are factors affecting the increase in CPI but are excluded from the list of core inflation calculations./.
Source: https://www.mpi.gov.vn/portal/Pages/2024-7-29/Consumption-price-increase-in-7-2024-by-4-36-so-voihtevwh.aspx
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