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Vietnam: CPI growth in 2021’s first half lowest since 2016

Vietnam’s consumer price index (CPI) in the first half of 2021 grew 1.47% compared with the same period last year, the lowest rate since 2016, according to the General Statistics Office.

The core inflation, which excludes the prices of fresh food, energy and State-controlled healthcare and education services, edged up 0.87% versus the year-ago period.

In June alone, the CPI inched up 0.19% over the previous month and 2.41% against the same period last year. Particularly, the index rose 0.22% month-on-month in urban areas and 0.15% month-on-month in rural areas. The statistics agency attributed the CPI growth to the rise of fuel, input materials, electricity and water prices.

Among 11 major groups of consumer goods and services, eight saw their prices rise against the previous month.

Of these, transport services witnessed the largest increase of 1.07% due to the rise of fuel prices, followed by construction materials at 0.63% and household equipment and appliances at 0.1%

Other groups including education, medicines and medical services and other products and services grew 0.02-0.06%.

Two groups saw a decrease in prices, including food and catering services, and culture, entertainment and tourism, which fell 0.13% and 0.08%, respectively. Meanwhile, the prices of footwear, hats and textiles were stable.

Source: SGT