High prices of electricity and construction materials push CPI up 0.11% in July

According to the market report for July and the first 7 months of 2025 of the General Statistics Office ( Ministry of Finance ), the price of housing maintenance materials, The increase in food prices and eating out was the main reason for the 0.11% increase in the consumer price index (CPI) in July 2025 compared to the previous month.

Compared to December 2024, CPI in July increased by 2.13% and compared to the same period last year increased by 3.19%. On average, CPI in the first 7 months of 2025 increased by 3.26% compared to the same period last year.

Of the 11 main consumer goods and services groups, 9 groups increased in price and 2 groups decreased in price.

9 groups of goods increased including: Food; Eating out; Beverages and tobacco; Housing, electricity, water, fuel and construction materials; Household equipment and appliances; Medicines and medical services; Education; Culture, entertainment and tourism; Other goods and services.

2 groups decreased: Transport and Post and Telecommunications.

High construction material prices are one of the reasons for the increase in the consumer price index in July. (Illustration photo)

Among the items with increased prices, it is worth noting that household electricity prices increased by 1.82% due to increased electricity demand due to prolonged hot weather in many areas, especially in the North and Central regions, and from May 10, Vietnam Electricity Group (EVN) increased household electricity prices.

The price index of housing, electricity, water, fuel and construction materials in July 2025 also increased by 0.36% compared to the previous month, affecting CPI increase 0.07 percentage points overall.

Among the items that decreased, the pork price index notably decreased by 0.99% due to many localities being directly affected by African swine fever. When the epidemic broke out, farmers sold off their herds to avoid losses, causing the supply of meat to the market to increase sharply in a short period of time, while the fear of the epidemic made consumers apprehensive, causing pork prices to decrease. Accordingly, the price index of animal organs decreased by 0.68%; frozen livestock meat decreased by 0.3%; processed meat decreased by 0.03%.

Core inflation in July increased by 0.21% compared to the previous month and by 3.3% compared to the same period last year. On average, in the first 7 months of 2025, core inflation increased by 3.18% compared to the same period last year, lower than the 3.26% increase of the average CPI. The main reason is that the prices of food, foodstuffs, electricity, medical services, and education services are factors that increase the CPI but are excluded from the list of goods for calculating core inflation.

Regarding import and export, in July, the total import and export turnover of goods reached 82.27 billion USD, up 8.0% over the previous month and up 16.8% over the same period last year. In the first 7 months of 2025, the total import and export turnover of goods reached 514.7 billion USD, up 16.3% over the same period last year, of which exports increased by 14.8%; imports increased by 17.9%. The trade balance of goods had a surplus of 10.18 billion USD.

The US is Vietnam's largest export market with a turnover of 85.1 billion USD. China is Vietnam's largest import market with a turnover of 101.5 billion USD. In 7 months, the trade surplus with the US reached 74.6 billion USD; the trade surplus with the EU was 22.3 billion USD; the trade surplus with Japan was 1.3 billion USD, up 21.0%; the trade deficit with China was 66.5 billion USD; the trade deficit with South Korea was 17.4 billion USD; the trade deficit with ASEAN was 8.5 billion USD.

Regarding business registration, in July, the country had 16,500 newly established enterprises, down 32.3% compared to the previous month and up 4.7% compared to the same period last year. In addition, the country also had 14,600 enterprises returning to operation.

On the other hand, 7,300 enterprises registered to temporarily suspend business for a period of time; 4,400 enterprises temporarily suspended operations pending dissolution procedures; 1,900 enterprises completed dissolution procedures.

In the first 7 months, the whole country had 174,000 newly registered enterprises and enterprises returning to operation, an increase of 22.9% over the same period last year. On average, there were 24,900 newly registered enterprises and enterprises returning to operation per month.

The number of enterprises withdrawing from the market is 144.4 thousand enterprises, an average of 20.6 thousand enterprises withdrawing from the market per month.

Investment capital realized from the State budget in July is estimated at VND 76.5 trillion, up 30.1% over the same period last year. In the first 7 months, investment capital realized from the State budget is estimated at VND 378.3 trillion, equal to 40.7% of the annual plan and up 25.4% over the same period last year (the same period in 2024 was equal to 38.6% and up 2.4%).

Total registered foreign investment capital in Vietnam as of July 31 reached 24.09 billion USD, up 27.3% over the same period last year.

Foreign direct investment realized in Vietnam in the first 7 months of 2025 is estimated at 13.6 billion USD, up 8.4% over the same period last year.

Meanwhile, Vietnam's overseas investment in the first 7 months had 105 projects newly granted investment certificates with a total capital of 398.9 million USD from Vietnam, 3.2 times higher than the same period last year. There were 20 projects with adjusted capital with an increase of 129.6 million USD, 4.5 times higher. In total, Vietnam's total overseas investment capital (newly granted and adjusted capital) reached 528.5 million USD, 3.5 times higher than the same period last year.

Total state budget revenue in July is estimated at VND242.1 trillion. Total state budget revenue in the first 7 months is estimated at VND1,577.5 trillion, equal to 80.2% of the yearly estimate and up 27.8% over the same period last year.

Total State budget expenditure in the first seven months is estimated at VND164.9 trillion. Total State budget expenditure in the first seven months is estimated at VND1,317.4 trillion, equal to 51.7% of the annual estimate and up 39.3% over the same period last year.

Source: https://baolangson.vn/gia-dien-vat-lieu-xay-dung-cao-thuc-cpi-thang-7-tang-0-11-5055286.html