CPI picks up 0.18% in July

The consumer price index (CPI) in July saw a month-on-month increase of 0.18% and a year-on-year growth of 2.44%, according to the General Statistics Office (GSO).

CPI picks up 0.18% in July

Out of the 11 key commodity groups, nine experienced price hikes, including goods and other services with the highest rise of 0.94%; food and catering services (0.33%); education (0.22%); culture, entertainment and tourism (0.15%), beverage and tobacco (0.12%).

Meanwhile, the costs of transportation; and housing, electricity, water and construction materials witnessed the same price drop of 0.03%.

Director of the GSO's Price Statistics Department Do Thi Ngoc attributed the July's CPI increase to high food costs, petro price hikes, higher health insurance as well as tuition fees.

In July, the VND/USD exchange rate decreased by 0.56% and gold prices went up 4.78%.

(Source: VGP)