CPI declines 1.54 percent in April

The General Statistics Office of Vietnam (GSO) on April 29 announced that the consumer price index (CPI) in April this year decreased by 1.54 percent compared to the previous month, the lowest level in the period from 2016 to 2020.
According to experts from the GSO, many countries in the world applied border closure and social distancing orders to prevent the spread of the Covid-19 pandemic, causing the prices of fuel and non-food items to plummet.

In the decrease of 1.54 percent of the CPI in April, six out of 11 commodity and service groups posted decreases. Of which, transportation saw the highest decline with 13.86 percent due to the impacts of two fuel price adjustments which lost up to 28.48 percent, dragging the general CPI down by 1.18 percent.

Housing and building materials sank 2.33 percent, mainly because many landlords reduced rents to support consumers during the pandemic so house rents reduced by 0.97 percent; home maintenance materials slid 0.27 percent; gas prices nosedived 19.74 percent; kerosene price slumped 29.97 percent.

Culture, entertainment, and tourism declined by 0.4 percent as the traveling demand decreased heavily. Garments, hats, and footwear lowered 0.17 percent.

Meanwhile, commodity and service groups that saw increases included restaurants and catering service with 0.66 percent, beverage and tobacco with 0.13 percent, household devices and appliances with 0.06 percent, and medicines and healthcare service with 0.03 percent.

However, in the first four months of this year, the average CPI rose by 4.9 percent year-on-year, the highest level in the period from 2016 to 2020.

By Anh Phuong – Translated by Thanh Nha

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