The CPI of August 2024 increased by 1.89% and 3.45% as compared to that of December 2023 and August 2023 respectively. Out of 11 main groups of commodities and services, the prices of ten groups of commodities and services experienced slight increases, while the price of the group of traffic decreased as compared with the previous month.
The price index of the group of food and catering services increased by 0.27%, contributing a 0.09 percentage point increase to the overall CPI. Specifically, the price index of the sub-group of grain food was up by 0.19%; the sub-group of foodstuff increased by 0.28% (contributing a 0.06 percentage point increase to the overall CPI); the sub-group of outdoor eating and drinking increased by 0.26%. The group of other commodities and services was up by 0.2%.
The group of pharmaceuticals and medical services rose by 0.18%, including the sub-groups of inpatient medical services and outpatient medical services increased by 0.29% and 0.11% respectively.
The group of postal services and telecommunication rose by 0.15%, of which the price of mobile phones and fixed-line phones increased by 0.52% and 0.25% respectively.
The group of beverages and cigarettes was up by 0.15%, caused by a high demand during the Vu Lan Festival and the high tourist season.
The prices of the group of education and the group of culture, entertainment and tourism were up by 0.14% and 0.12% respectively; the price of the group of household appliances and goods rose by 0.09% due to higher labor costs. The group of textile, footwear and hats was up by 0.05%.
The price of the group of traffic went down by 1.98% due to the declining fuel prices, contributing a 0.19 percentage point decrease to the overall CPI.
On average, for the eight months of 2024, the core inflation increased by 2.71% against that of the same period in 2023, lower than the average CPI growth rate of 4.04% so far this year.
