CPI growth in Jan-Apr lowest in three years
CPI growth in Jan-Apr lowest in three years
The country’s consumer price index (CPI) in the first four months of the year grew 2.71% year-on-year, the lowest for the period in three years, according to the General Statistics Office.
The CPI this month inched up 0.31% over the previous month and 2.93% against the same period last year.
Last month, nine out of 11 groups of consumer goods and services in the basket of items used to calculate the CPI have marked an increase in prices, with the transport group topping the list, recording an increase of 4.29% due to the fuel price hikes on April 2 and 17 following an increase of 2.76% in train fares given the high travel demand during the ongoing holiday.
Only the food and catering service and post and telecommunications groups were down by 0.57% and 0.07%, respectively.
This month’s core inflation, which excludes the prices of fresh food, energy and State-controlled healthcare and education services, increased 0.09% over March and 1.88% year-on-year.
In the four-month period, core inflation edged up 1.84% versus the year-ago period.
The fuel and electricity price hikes have directly affected the country’s CPI. However, the complicated developments of African swine fever, which affected consumer spending on pork, as well as the Government’s monetary policies have helped control inflation.
