CPI edges up on gas, food price hikes

CPI edges up on gas, food price hikes

The nation's consumer price index (CPI) rose 1.62 per cent year-on-year until the end of July, the lowest level since 2006, according to the General Statistics Office (GSO).

It said that the CPI for July surged 0.23 per cent over June and 4.94 per cent over the same period a year ago.

Deputy director of GSO, Do Thi Ngoc attributed this month's CPI growth to increases in the domestic prices of petrol and gas, resulting in higher transportation costs and costs of public transportation services as well as a hike in prices of foodstuff.

In addition, the surge of people attending the university entrance examinations and rising number of travellers due to the hot weather also made demands on accommodation, food, room rentals and other services, she said.

However, this growth remained moderate, revealing the sufficiency of State policies in curbing inflation and stabilising the macro-economy, she noted.

Among the baskets of goods used in the CPI calculation, restaurants and food services recorded the highest growth at 26 per cent.

It was followed by construction (0.44 per cent) and beverages, cigarettes and garments (0.2 per cent). Hats and footwear also recorded a growth of 0.2 per cent.

Earlier, Ha Noi and HCM City announced their CPI indices for July at 0.18 per cent and 0.12 per cent, respectively.

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