April's CPI increases 0.18 percent

ABO/NDO - The consumer price index (PCI) in April rose 0.18 percent over the previous month and 2.64 percent year on year, according to the General Statistics Office (GSO).

The office said that increases in the prices of construction materials, catering and tourism service, and the recover in education service cost after a period of applying tuition reduction in many localities after COVID-19 is controlled are among factors causing the rise in CPI.

The average CPI for the first four months of this year rose 2.1 percent year on year, higher than 0.89 percent recorded in the same period last year, but lower than the increases in the January-April period in 2017-2020. The core inflation was also up 0.97 percent.

Consumers shop for food at a supermarket in Hanoi. (Photo: Ha Nam).

In April, among 11 major groups of goods and services, eight saw an increase in prices, while three others saw a decrease.

The head of the GSO said that the hike in petrol prices is the major factor pushing up CPI in the first four months of this year, adding that so far, domestic petrol prices surged 48.84 percent year on year, which led to 1.76 percentage points rise in CPI.

Following the petrol price, gas price also increased 24.6 percent year on year, contributing to pushing the CPI up by 0.36 percentage points.

Meanwhile, the price of materials for house upgrading in four months increased 8.51 percent, while that of rice went up 0.98 percent, and restaurant service was up 3.17 percent.

On the other hand, in the first four months of this year, downturn was seen in the prices of food (0.94 percent), processed meat (4.48 percent), education service (3.93 percent).

Domestic gold price rose 0.73 percent over the previous month and 12.28 percent year on year in April, and 5.56 percent year on year in the first four months of 2022. Meanwhile, USD price in Vietnam also saw year on year rise of 0.64 percent in April and 0.66 percent in January-April period.

(Source: NDO)