Consumer price index in July increased by 3.23% over the same period

In the July 2023 consumer price index (CPI) calculation period, compared to the previous month, the CPI increased by 0.34% and compared to the same period last year, it increased by 3.23%. Notably, in the 0.34% increase in the CPI in July, there were 9 groups of goods and services with increased price indexes.

Of which, the other goods and services group increased the highest with 3.96%; the housing and construction materials group increased by 0.81%; the household equipment and appliances group increased by 0.48%; the culture, entertainment and tourism group increased by 0.27%; the food and catering services group increased by 0.14%; the clothing, hats and footwear group increased by 0.09%; the post and telecommunications group increased by 0.08%; theeducation group and the medicine and medical services group both increased by 0.03%. The only group with a decrease in the price index was the transportation group with a decrease of 0.13%, due to a decrease in gasoline prices of 0.12% and a decrease in motorbike prices of 0.46% to stimulate demand. The beverage and tobacco group remained stable.

The reason for the CPI increase in July was that during the month, health insurance for civil servants and freelancers increased by 20.81% from July 1, 2023, applied to the basic salary of 1.8 million VND/month. Rice prices increased by 500-1,000 VND/kg (depending on the type) due to increased export rice prices, pushing up local rice prices. In addition, rental housing prices increased by 1.58% due to increased demand for rental housing; household electricity prices in July 2023 increased by 2.89% due to increased demand for electricity during the hot season; kerosene prices increased by 3.44% due to the impact of price adjustments on July 3, 11 and 21, 2023... The above results have impacted the average CPI in the first 7 months of 2023 to increase by 4.85% compared to the same period last year.

Consumers shop at WinMart Supermarket.

Regarding trade and service activities in July, consumer demand increased, tourism attracted many visitors, contributing to the total retail sales of goods and consumer service revenue reaching VND 3,368.5 billion, up 2.1% over the previous month and up 18.2% over the same period last year. In the first 7 months of 2023, the total retail sales of goods and consumer service revenue reached VND 22,069.5 billion, up 17.7% over the same period last year (the same period in 2022 increased by 29.1%).

By industry, retail sales of goods are estimated at VND16,975.9 billion, accounting for 76.9% of the total and up 13.8% over the same period last year. Of which, apparel increased by 32.5%; cultural and educational items increased by 28.5%; household appliances, tools and equipment increased by 28.3%; means of transport increased by 11.6%; food and foodstuffs increased by 10.3%. Revenue from accommodation and catering services is estimated at VND3,255.4 billion, accounting for 14.8% of the total and up 37.5% over the same period last year. Revenue from tourism and travel is estimated at VND8.6 billion, accounting for 0.04% and up 2.48 times. Revenue from other services is estimated at VND1,829.6 billion, accounting for 8.3% and up 25.1%.

Thuc Anh

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