CPI up 0.31% in first month of 2024

The consumer price index (CPI) in January 2024 increased by 0.31% over the previous month. Compared to the same period in 2023, the CPI in January this year increased by 3.37%; core inflation in January 2024 increased by 2.72%.

Figures released by the General Statistics Office this morning (January 29) show that the consumer price index (CPI) in January 2024 increased by 0.31% compared to the previous month. Compared to the same period last year, the CPI in January this year increased by 3.37%; core inflation in January 2024 increased by 2.72%.

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According to the General Statistics Office, some of the main reasons for the increase in CPI in January 2024 were that some localities increased medical service prices according to Circular No. 22/2023/TT-BYT, Vietnam Electricity Group adjusted the average retail electricity price and domestic rice prices continued to increase following export rice prices.

In the 0.31% increase in CPI in January 2024 compared to the previous month, there were 9 groups of goods and services with increased price indexes and 2 groups of goods with decreased price indexes.

Specifically, the group of medicines and medical services increased the most with 1.02% (making the overall CPI increase by 0.05 percentage points). Next was the group of housing and construction materials, which increased by 0.56%, making the overall CPI increase by 0.11 percentage points, due to the price of household electricity in January 2024 increasing by 1.29% compared to the previous month and the demand for electricity for heating increased when the weather turned cold. The price of housing maintenance materials increased by 0.53% and the price of housing repair services increased by 0.33%; gas prices increased by 1.69%.

On the contrary, the price of kerosene in January 2024 decreased by 1.24% compared to December 2023 due to the impact of price adjustments on January 4, 2024, January 11, 2024, January 18, 2024 and January 25, 2024.

The transportation group increased by 0.41%, also causing the general CPI to increase by 0.04 percentage points, due to the gasoline price index increasing by 0.79%; the diesel price index increasing by 1.39%; the public transport service price index increasing by 3.64%; the price of auto parts increasing by 0.06%; and the price of motorcycle tires and tubes increasing by 0.12%... On the contrary, there were some items that decreased in price compared to the previous month: the prices of new cars, motorcycles and used cars decreased by 0.33%; 0.04% and 0.4% respectively due to car companies applying promotional programs to stimulate consumer demand.

Next, the group of other goods and services increased by 0.4%, mainly increasing prices in some items: Prices of jewelry group increased by 2.48%; hair cutting and shampooing services increased by 0.9%; personal care services increased by 1.16%. During the wedding season, prices of wedding items and services increased by 0.47%. In addition, the demand for worship items increased at the end of the year, so the prices of these items increased by 0.39% compared to the previous month.

The beverage and tobacco group increased by 0.38% due to increased consumer demand and use as gifts during the upcoming Lunar New Year, causing the price of alcohol and beer to increase by 0.54%; cigarettes increased by 0.32%; non-alcoholic beverages increased by 0.06%.

The food and catering services group increased by 0.21% (causing the general CPI to increase by 0.07 percentage points), of which: Food increased by 1.74%; food decreased by 0.09%; eating out increased by 0.30%. The household equipment and appliances group increased by 0.14%.

The culture, entertainment and tourism group increased by 0.11%, mainly focusing on the following items: package tours increased by 0.7%; books, newspapers and magazines of all kinds increased by 0.43%; hotels and guesthouses increased by 0.13%.

Two groups of goods and services with price indexes decreasing include: the post and telecommunications group decreased by 0.05% due to companies implementing promotional programs to reduce prices for some types of mobile phones.

According to Tran Ngoc/VOV.VN

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