April CPI rises 0.07 per cent on higher house rents

April CPI rises 0.07 per cent on higher house rents

The Consumer Price Index (CPI) edged up 0.07 per cent in April over the previous month, mainly due to rising rents and food prices, according to the General Statistics Office (GSO).

A supermarket in Hà Nội. Core inflation rose 3.05 per cent in January – April over the same period last year. — VNA/VNS Photo Trần Việt

April CPI rose by 1.37 per cent over December and 3.12 per cent over the same period last year.

Among 11 goods categories in CPI basket, eight saw increases. Housing, electricity, water and building materials categories rose the most, up 0.62 per cent, contributing 0.12 percentage points to the overall CPI increase. Major drivers included rents (up 0.57 per cent), electricity (up 1 per cent) and water prices (up 1.57 per cent) due to rising demand in the Southern region during the hot season.

Meanwhile, transportation services dropped by 1.05 per cent, while post and telecommunications fell by 0.15 per cent.

Core inflation rose 0.21 per cent from the previous month and 3.14 per cent year-on-year. Overall, core inflation rose 3.05 per cent in January – April over the same period last year, lower than the average at 3.2 per cent.

GSO added that gold prices in Việt Nam are developing in line with global trends. As of April 28, the world gold price reached US$3.220,07 per ounce, up 7.33 per cent over March, fuelled by the conflicts in Ukraine and the Middle East, along with trade tensions. Gold purchases by central banks, especially in Asia and the Middle East, together with expectations over US rate cuts, also contributed to the rally.

In the domestic market, the gold index rose 10.54 per cent in April over March, 37.14 per cent over the same period last year. In the first four months of this year, gold prices rose by 32.85 per cent. 

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