CPI 11 months 2024 increased by 3.69% over the same period

(CPV) - On December 6, the General Statistics Office announced periodic data on the socio -economic situation in November and 11 months of 2024, stating that the increase in the price index of household electricity, rental housing prices and housing maintenance materials were the main reasons for the consumer price index (CPI) in November 2024 to increase by 0.13% compared to the previous month.

On average, in the first 11 months of 2024, CPI increased by 3.69% over the same period in 2023; core inflation increased by 2.7%.

In the 0.13% increase in CPI in November 2024 compared to the previous month, there were 08 groups of goods and services with increased price indexes and 03 groups of goods with decreased price indexes.

Source: General Statistics Office

Accordingly, the price index of 8 groups of goods and services increased, including: Housing, electricity, water, fuel and construction materials group increased the highest with an increase of 0.87%; Other goods and services group increased by 0.29%; Beverages and tobacco group increased by 0.26%; Clothing, hats and footwear group increased by 0.21%; Culture, entertainment and tourism group increased by 0.2%;Education group increased by 0.11%; Household equipment and appliances group increased by 0.08% due to increased consumer demand during the wedding season and the weather changing to winter; Medicines and medical services group increased by 0.05% due to the changing weather, flu, respiratory diseases increased, so people's demand for pain relievers, fever reducers, respiratory drugs, vitamins and minerals increased.

Also according to the General Statistics Office, 3 groups of goods and services with price indexes decreasing include: Transportation group decreased by 0.07%; Food and catering services group decreased by 0.22%; Post and telecommunications group decreased by 0.3%.

Core inflation in November 2024 increased by 0.24% compared to the previous month and increased by 2.77% compared to the same period in 2023. On average, in the first 11 months of 2024, core inflation increased by 2.7% compared to the same period in 2023, lower than the average CPI increase (3.69%), mainly due to the prices of food, foodstuffs, electricity, education services, and medical services, which are factors affecting the CPI increase but are excluded from the list of goods for calculating core inflation.

Education group increased by 0.11%, one of 8 groups causing CPI to increase (Photo: HNV)

Domestic gold prices fluctuate in the same direction as world gold prices. As of November 27, 2024, the average world gold price was at 2,696.8 USD/ounce, up 0.12% compared to October 2024. In early November 2024, world gold prices dropped significantly after Republican candidate Donald Trump won the US presidential election as investors adjusted their portfolios and waited for new economic policies from the President-elect. However, this decline was short-lived, and gold prices quickly recovered in the following weeks due to factors such as geopolitical tensions and expectations of interest rate cuts from the US Federal Reserve (FED).

Domestically, the gold price index in November 2024 increased by 2.26% compared to the previous month; increased by 32.91% compared to December 2023 and increased by 38.2% compared to the same period in 2023; on average in 11 years of 2024, the gold price index increased by 28.42%.

As of November 27, 2024, the US dollar price index in the international market reached 105.47 points, up 2.52% over the previous month due to expectations of the FED's monetary policy and positive US economic data, along with escalating geopolitical tensions in some countries, increasing demand for the USD as a safe asset. Domestically, the average US dollar price in the free market fluctuated around 25,483 VND/USD. The US dollar price index in November 2024 increased by 1.76% over the previous month; increased by 4.22% over December 2023 and increased by 3.63% over the same period in 2023; the average 11 months of 2024 increased by 4.97%./.

Source: https://dangcongsan.vn/kinh-te/cpi-11-thang-2024-tang-3-69-so-voi-cung-ky-685548.html