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Inflation rises following higher transportation costs

By    June 23, 2016 | 07:16 pm PT
The June consumer price index (CPI) in Vietnam advanced 0.46 percent from May, according the data from the statistics office released on Friday.

The average inflation in the first six months of this year is estimated to have risen 1.72 percent against the same period last year following higher transportation and housing costs, the report showed.

The office also said that CPI in June has increased 2.4 percent from last June.

Noticeably, the country has recorded a price increase in 10 out 11 main goods and services.

Although food accounts for 42.8 percent of the 19 items the country uses to calculate consumer inflation, it is not largely to blame for the hike because other items are moving higher from last month, including transportation up 2.99 percent, housing and construction materials up 0.55 percent, said statistics official.

The average fuel price, including retail gasoline and diesel, has jumped by 6.46 percent from May, making this month CPI to rise by an additional 0.27 percent.

Brackets which show the weighing of each item in the General Statistics Office's price basket currently cover 573 items.

The Vietnamese government is committed to keeping annual inflation rate below 5 percent this year after taking into account recent adverse weather conditions including the prolonged drought and saltwater intrusion in the southern Mekong Delta and the mass fish deaths in central provinces.

Related News:

Vietnam aims to keep inflation under 5 percent in 2016

China April consumer inflation steady at 2.3 pct y/y, below forecasts

Rising fuel prices push CPI up in May: GSO report

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