Apr 30, 2018 / 15:06

Fuel price as main driver to the CPI hike in April

Vietnam’s consumer price index (CPI) in April moved 0.08% against last month, pushing up the four-month figure by 2.8 percent year-on-year, reported the General Statistics Office (GSO) on April 29.

Six among 11 commodity groups witnessed price increase in April. Among those, transportation lead the rank with 1.18% increase in prices, which is due to two fuel price adjustments in April 7 and April 23, contributing to raise the CPI by 0,11%.
Illustrative photo
Illustrative photo

The other five groups are housing, water and electricity supply, and construction materials (0.18%); household equipment and appliances (0.09%), culture, entertainment and tourism (0.08%), education (0.06%), medicines and medical services (0.02%).
Meanwhile, lower prices were posted in food and catering services (0.18%), posts and telecommunication (0.08%), other goods and services (0.02%); apparel, headwear and footwear (0.01%).
According to GSO, the four-month core inflation (CPI exclusive of foodstuff, fresh food, energy, health care and education services) increased by 0.05% monthly and 1.33% year-on-year.
Despite current figures reflect the stable trend in commodity price, GSO still warned about unexpected factors which can affect the average CPI 2019 and expose challenges to the price monitor in 2019.
In another move, gold prices inched up 0.47 percent monthly while USD prices remained stable at around 22,790 VND.