AsemconnectVietnam - Pork prices increased due to African swine fever outbreaks in some localities, and medical service prices of some provinces and cities adjusted according to Circular No. 22/2023-BYT of the Ministry of Health caused the consumer price index (CPI) in June of 2024 to increase by 0.17% compared to the previous month.

According to the General Statistics Office, in comparison to December of 2023, CPI in June increased by 1.4% and in comparison to the same period last year it increased by 4.34%. The average CPI in the second quarter of 2024 increased by 4.39% compared to the second quarter of 2023. Among 11 main groups of consumer goods and services, 8 groups increased prices compared to the previous month and 3 groups decreased prices. Of the 11 main consumer goods groups, 10 groups increased their prices, especially the postal and telecommunications group decreased by 1.18% due to the decrease in prices of older generation phones.
CPI in the second quarter increased by 4.39% over the same period in 2023. The main reason was that the average price index of food and food services in the second quarter of 2024 increased by 4.48% over the same period last year.
On average, in the first 6 months of 2024, CPI increased by 4.08% over the same period last year. One of the reasons for the above increase pointed out by the General Statistics Office was that the average price index of food and food services in the first 6 months of 2024 increased by 4% over the same period last year, causing the general CPI to increase by 1.34%.
In addition, the residential electricity price index increased by 9.45% due to increased electricity demand along with EVN adjusting the average retail electricity price in 2023, also causing the overall CPI to increase by 0.31%; the education group price index increased by 8.58% because in the 2023-2024 school year, some localities increased tuition fees, causing the overall CPI to increase by 0.53%.
Regarding inflation, core inflation in June increased by 0.18% over the previous month, up by 2.61% over the same period last year. On average, in the first 6 months of 2024, the core inflation increased by 2.75% over the same period of 2023, lower than the general average CPI (up by 4.08%), mainly due to food, electricity and service prices. Education and medical services were factors that increase CPI but belong to the group of goods excluded from the list of core inflation calculations.
Domestic gold prices were in the same direction as world gold prices. As of June 24, 2024, the average world gold price was at 2,348.27 USD/ounce, down by 0.18% compared to May of 2024. Domestically, the gold price index in June of 2024 decreased by 2.64% compared to the previous month; an increase of 18.26% compared to December of 2023; increased 29.51% over the same period last year; The average increase in the first 6 months of 2024 was 24.02%.
CK
Source: VITIC/congthuong.vn