CPI growth for this whole year could be still kept to the 7-8 per cent rate targeted by the National Assembly, he added.—Photo vinacorp

HA NOI (Biz Hub)— The consumer price index in July increased by 0.27 per cent against June, the General Statistics Office (GSO) announced yesterday.

The increase was the highest since February and a year-on-year jump of 7.29 per cent.

The rate July's CPI rise was acceptable given the economic situation this year, said director of the GSO's Price Department, Nguyen Duc Thang.

CPI growth for this whole year could be still kept to the 7-8 per cent rate targeted by the National Assembly, he added.

In July, the prices of 10 out of the 11 goods and services used to calculate CPI went up between 0.05 per cent and 0.43 per cent.

The cost of transport rose more steeply by 1.34 per cent this month because of increasing petrol and oil prices, and a hike in coach and train fares (2.9 and 5.06 per cent, respectively).

Among the other goods and services to post increases were education (0.09 per cent), medicine and health care services (0.05 per cent), beverage and tobacco (0.29), garment, footwear and textiles (0.25 per cent) and cultural, entertainment and tourism services (0.31 per cent).

Fruit and vegetable prices climbed between 0.18 per cent and 1.52 per cent due to bad weather affecting supplies, and the cost of meat declined between 0.16-0.33 per cent because of low quality fears.

The price of rice also fell 0.3 per cent because of high supply in northern and southern provinces.

In July, the gold price dropped sharply by 6.28 per cent against last month and 13.35 per cent year-on-year, while the US dollar price surged 0.58 per cent compared with June. — VNS