Consumer Prices in Vietnam Fall for Second Straight Month on Lower Fuel Prices

Tuan Minh

15:06 29/06/2017

BizLIVE - The cost of living in Vietnam dipped in June for a second month in a row.

Consumer Prices in Vietnam Fall for Second Straight Month on Lower Fuel Prices

Lower fuel and foodstuff prices have pushed inflation in Vietnam down.

Vietnam’s consumer price index (CPI) in June slipped 0.17% from May, marking the second successive monthly decline, driven by lower petroleum and foodstuff prices, the General Statistics Office (GSO) has said in a report.
Out of the 11 commodities groups used for CPI calculation, transport prices were down 0.71% month-on-month following a cut in fuel prices on June 20, restaurant and catering service prices fell 0.59%, mainly due to drops in prices of food, foodstuffs and perishables.
The average CPI increased 4.15% year-on-year in the first half of this year. The gauge in June edged up 0.2% from December 2016 and 2.54% from a year earlier.
The increase in consumer prices is attributable to hikes in prices of healthcare services in 27 provinces and cities and education fees, which are administered and approved by the government.
The office added that core inflation in June went up 0.1% from May and 1.29% from June last year.
The gold index in June increased 0.25% from the previous month while the USD index slid 0.07%. These two indexes are not included in the basket for CPI calculation.

TUAN MINH

Từ khóa: inflation, CPI, GSO