CPI remains at its lowest level since 2016

SGGP
The consumer price index (CPI) in November edged up by 0.32 percent over the previous month, 2 percent higher than December last year. In the first 11 months of this year, CPI surged by 1.84 percent year-on-year, the lowest increase since 2016, the General Statistics Office of Vietnam announced this morning.
In 11 main groups of consumer goods and services, nine posted increases, and two saw decreases compared to the previous month.

The transportation group had the highest increase compared to the previous month with 3.11 percent due to the impact of fuel price hikes, causing the general CPI to inch up by 0.3 percentage points.

The group of housing and construction materials climbed by 0.46 percent, making the general CPI increase by 0.09 percentage points. Of which, the price of household electricity jumped by 1.04 percent compared to the previous month as Government's power price support ended in some localities; housing maintenance materials augmented by 0.94 percent as the construction demand recovered after a pause, and prices of input materials escalated.

Besides, consumer demand for goods and services rebounded in the new normal state, along with increasing transportation costs, making beverages and tobacco group, apparel, hats, and footwear, and household appliances also go up.

Two groups with significant decreases include education with 0.92 percent and food and catering services with 0.17 percent due to abundant supply.

Core inflation in November increased by 0.11 percent over the previous month and 0.58 percent year-on-year. On average, core inflation in the first 11 months of 2021 emerged by 0.82 percent over the same period last year, lower than the general average CPI, which reflects the fluctuations in consumer prices mainly due to the increase in food, fuel, and gas prices. Core inflation in November and 11 months of 2021 are both the lowest levels since 2011 compared to the same period last year.

By Anh Phuong – Translated by Bao Nghi

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