[NEWS] – CPI up 2.6% in 8 months

21/09/2022

According to the General Statistics Office, the consumer price index (CPI) in August is estimated to increase by 0.006% compared to the previous month. The average CPI in the 8 months of 2022 is estimated to increase by 2.58% - 2.6% over the same period in 2021. The General Statistics Office forecasts the average CPI in the range of 3.4-3.7%.

CPI (Consumer price index) is the average consumer price index for a person’s basket of goods or services and this index also represents the change in the price of goods and services over time with a unit of measurement. is percent. According to the General Statistics Office, the consumer price index (CPI) in August is estimated to increase by 0.006% compared to the previous month. The average 8 months of 2022 is estimated to increase by 2.58%-2.6% over the same period in 2021.

The Ministry of Finance forecasts that in the coming time, prices of many strategic raw materials and supplies will still be under great pressure from the uneven and unsustainable recovery of the world economy, especially some economies’ major partners and main partners of Vietnam such as the US, EU, China, etc.

On that basis, the Ministry of Finance forecasts that the average CPI in 2022 will increase in the range of 3.37-3.87%. The General Statistics Office forecasts the average CPI in the range of 3.4-3.7%. The State Bank of Vietnam forecasts that average inflation in 2022 will increase by 3.7% (about 0.3%).

Also according to the General Statistics Office, core inflation in August 2022 increased by 0.4% over the previous month, increasing by 3.06% over the same period in 2021. On average, in the first eight months of 2022, core inflation increased by 1. 64% y/y in 2021, lower than the average CPI (up 2.58%), which reflects fluctuations in consumer prices mainly due to food and petrol prices.

The statistics also said that the gold price index in August 2022 decreased by 0.9% compared to the previous month; an increase of 5.87% over the same period in 2021; an average increase of 6.5% in the first 8 months of 2022.

Meanwhile, the US dollar price index in August 2022 increased by 0.18% over the previous month and by 2.41% over the same period in 2021; the average 8 months of 2022 increased by 0.37%.

Thanh Long

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