AsemconnectVietnam - According to the General Statistics Office (GSO), Vietnam’s consumer price index (CPI) in April increased by 0.07% compared with the previous month and increased by 4.4% over the same period last year.

The increase was mainly attributed to the petroleum price increase.
8 of the 11 main groups of consumer goods and services saw price increase compared to the previous month while the three remaining groups saw price decrease over the same period last year.
The figures released by the GSO showed that the domestic petrol prices increased by 4.78% and diesel prices increased by 2.01%, making the transportation and related service costs to increased by 1.95%.
Especially, aviation transportation costs increased sharply by 10.42% due to high demand for travel during the five-day holiday period, starting from April 27 to May 1, 2024.
The price of drugs and medical services increased by 0.92% due to seasonal changes and the emergence of disease-causing viruses.
The other commodities and services seeing price hikes included beverages and tobaccos (up by 0.09%); garments, headwear and footwear (up by 0.12%); housing and building materials (up by 0.21%); household appliances (up by 0.11%); culture-entertainment-tourism services (up by 0.03%); and other goods and services (up by 0.27%).
The three groups of goods and services saw price decrease were food and catering services (down by 0.13%); postal and telecommunications services (down by 0.17%); and education (down by 2.93%).
In April, domestic gold prices fluctuated in the same direction as world gold prices. The domestic gold price index in April increased by 6.95% compared to the previous month; and increased by 17.01% compared to December of 2023. The figure increased sharply by 28.62% over the same period last year. The average increase in the first four months of 2024 was 20.75%.
The GSO said the core inflation in April increased by 0.17% over the previous month and by 2.79% over the same period last year.
On average, core inflation in the first four months of this year increased by 2.81% over the same period last year, lower than the CPI average of 3.93%.
The reason why the consumer price index in the first 4 months of the year to increase by 3.93%
The gasoline prices increased in accordance to the world fuel prices was the main reason why the consumer price index (CPI) in April of 2024 increased by 0.07% compared to the previous month.
In comparison to December of 2023, Vietnam’s April CPI increased by 1.19% and it increased by 4.4% compared to the same period last year.
On average, in the first 4 months of 2024, CPI increased by 3.93% over the same period last year; and core inflation increased by 2.81%.
Especially, compared to the same period last year, the education group had the highest increase with 8.31%, causing the general CPI to increase by 0.51% because in the 2023-2024 school year, some provinces and centrally run cities increased tuition fees according to the Resolution of the Provincial People's Council.
Meanwhile, the price of the group of drugs and medical services, which increased by 7.44%, causing the general CPI to increase by 0.4% due to the price of medical services being adjusted according to Circular No. 22/2023/TT-BYT of the Ministry of Health from November 17, 2023.
The next was the group of other goods and services with an increase of 6.23%, of which notary fees, insurance and other services increased by 12.59%; personal services increased by 7.81%; environmental sanitation services increased by 5.37%; and hospitality services increased by 2.65%.
The housing and construction materials group increased by 5.97%, causing the overall CPI to increase by 1.12% due to the increase in the price of housing maintenance materials and rental housing prices.
Particularly, the price index of the postal and telecommunications group in April of 2024 decreased by 1.5% over the same period last year due to falling prices of older generation phones.
On average, in the first 4 months of 2024, core inflation increased by 2.81% over the same period last year, lower than the general average CPI level.
In the first 4 months of the year, the average consumer price index increased by 3.93% compared to the same period in 2023. In particular, the price index of housing and construction materials increased by 5.54%, causing an increase in CPI of 1.04%, due to the increase in prices of cement, iron, steel, and sand due to input prices of raw materials and rising housing rental prices.
In addition, the price index of the education group in the first 4 months of the year increased by 8.84% because in the 2023-2024 school year, some provinces and centrally run cities increased tuition levels, also causing the overall CPI to increase by 0.55%.
The price index for the group of drugs and medical services increased by 6.74%, also causing the general CPI to increase by 0.36% due to the price of medical s
CK
Source: VITIC/vietnamplus.vn/haiquanonline.com.vn