November’s CPI grows 3.45 per cent

Wednesday, Nov 29, 2023 16:58

Food prices increased by 6.67 per cent, contributing to CPI rise in the first 11 months of the year. — Photo

The consumer price index (CPI) for November has gone up by 0.25 per cent compared to the previous month and 3.45 per cent to the same period last year, announced the General Statistics Office (GSO) on Wednesday.

The reasons behind the higher CPI include some localities raising the cost of healthcare services and tuition fees as per regulations, as well as domestic rice prices further rising due to an increase in the export price of the product.

Against October, eight among the 11 groups of essential goods and services experienced price increases, two saw price decreases, and the cost of the equipment and household items group remained unchanged.

On average, for the first 11 months, the index grew 3.22 per cent year-on-year, with the core inflation rate up by 4.27 per cent. During the period, the highest CPI increase was recorded in January at 4.89 per cent, followed by a gradual decrease until June, which recorded an increase of only 2 per cent.

Factors contributing to the CPI rise between January and November included average airfare index which soared by 87.29 per cent annually, primarily due to the costs of airlines and the high demand for travel, especially during holidays and summer vacations. Train and bus ticket prices also went up by 29.67 per cent and 7.43 per cent, respectively. Meanwhile, the education, food, and household electricity price indices rose by 7.35 per cent, 6.67 per cent, and 4.55 per cent, respectively.

Among the factors reducing the CPI in the 11-month period, the most significant was a decrease in the price index of petroleum products, at 12.12 per cent. — VNS

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