The July consumer price index (CPI) grew 0.4 per cent from the previous month, contributing to the year-on-year growth of 2.54 per cent in the first seven months of this year, the General Statistics Office (GSO) said on Friday.

The July CPI increased 3.59 per cent from last December and 3.14 per cent from a year earlier.

Price hikes were recorded in 10 of the 11 categories of main consumer goods and services, but prices in the transport category fell 2.85 per cent due to declines in domestic fuel prices.

In the first seven months, the CPI rose 2.54 per cent while core inflation was up 1.44 per cent year on year.

The GSO said during the period, fuel prices were adjusted 19 times, including six decreases. As a result, domestic petrol and oil prices climbed by 49.75 per cent.

Thanks to the COVID-19 pandemic being brought under control, demand for restaurant services has surged, leading to a year-on-year increase of 3.81 per cent in eating-out prices. Prices of house maintenance materials and milled rice also went up 7.84 per cent and 1.15 per cent during January - July, respectively.

Meanwhile, price decreases were reported in food (down 0.07 per cent), educational services (3.42 per cent), and postal and telecommunications services (0.5 per cent).

The core inflation in July inched up 0.58 per cent month on month and 2.63 per cent year on year. During the seven months, it rose 1.44 per cent from the same period of last year, lower than the CPI expansion of 2.54 per cent, showing that fluctuations in consumer prices were mainly driven by food and fuel prices, according to the GSO.

Source: VNS