July CPI grows 0.4%, the lowest in a year and a half

In the 11 main categories of consumer goods and services, 10 categories of goods increased in price compared to the previous month. In transportation, the price decreased by 2.85% due to the decrease in the domestic gasoline price.

Food and catering services (+1.37%), of which food increased by 0.31%, food by 1.6%, and eating outside the family increased by 1.28%.

Beverages and tobacco increased by 0.39%; Garment, hats, and footwear increased by 0.32%; Housing and construction materials increased by 0.49%.

Household Appliances increased by 0.32%; Culture, entertainment, and tourism increased by 0.79%; Other goods and services increased by 0.43%; Post and telecommunications increased by 0.26%; Education increased by 0.20%; Medicines and medical services increased by 0.05%.

Compared to December 2021, CPI in July increased by 3.59%, of which 10 commodity categories increased in price, especially the postal and telecommunications group decreased by 0.07%.

The traffic in July 2022 had the highest increase with 11.16% compared to December 2021, in which gasoline prices increased by 25.79% because from the beginning of the year until now, the domestic petrol price has adjusted 19 times. for A95 gasoline to increase by VND2,780/liter; E5 gasoline increased by VND2,520/liter and diesel oil by 7,280 VND/liter. 

On average, in 7 months, domestic gasoline prices increased by 49.75% over the same period last year, causing the overall CPI to increase by 1.79 percentage points.

The housing and building materials categories increased by 3.44% mainly due to the increase in prices of housing maintenance materials.

The group of culture, entertainment, and tourism increased by 4.16% due to high tourism demand after the Covid-19 epidemic was controlled.

According to the General Statistics Office of Vietnam, the average CPI in the first seven months of 2022 increased by 2.54% year-on-year

Domestic gas prices fluctuate according to world gas prices, gas prices in the first 7 months of this year increased by 23.78% over the previous period, contributing to the overall CPI increase of 0.35 percentage points.

The COVID-19 epidemic has been controlled, and the demand for eating out of restaurants has increased, so the average price of meals outside the family in 7 months increased by 3.81% from a year earlier, causing the overall CPI to increase by 0.33 percentage points.

The price of housing maintenance materials in 7 months increased by 7.84% causing the overall CPI to increase by 0.16 points percent.

The increase in domestic rice prices in line with export prices in the first seven months of 2022 increased by 1.15%. Overall CPI increased by 0.03 percentage points.

The price of food products in the 7 months of 2022 decreased by 0.07% compared to the same period last year, and the price of pork by 18.97%. The price of animal organs decreased by 8.71%; the price of processed meat decreased by 3.36%. The price of animal feed increased again due to an increase in the price of animal feed, but in general, the cost of pork decreased.

The price of educational services decreased by 3.42% because some provinces and centrally-run cities exempted and reduced tuition fees from the first semester of the school year 2021-2022. Post and telecommunications prices decreased by 0.5% year-on-year due to lower mobile phone prices.

On average, in the first 7 months of 2022, core inflation increased by 1.44% over the same period in 2021.