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Markets & Prices

Last updated: Thursday, August 17, 2017

 

CPI Jumps Slightly in July

Posted: Wednesday, August 02, 2017


The consumption price index posted a month-on-month growth of 0.11 per cent in July, the record low over the last five years, the General Statistics Office (GSO) reported.

Specifically, eight out of the 11 groups of goods and services witnessed rising prices, including goods and other services (up 0.73 per cent); restaurants and services (up 0.54 per cent); medicines and health services (up 0.36 per cent); equipment and household utensils (up 0.09 per cent); education (up 0.05 per cent); beverage and tobacco (0.04 per cent); garments and textiles, hats, and footwear (up 0.04 per cent); housing and material building (up 0.03 per cent).

Only three groups saw declining prices, including transport (down 1.52 per cent); post and telecom (0.06 per cent); culture, entertainment, and tourism (0.03 per cent).

Experts attributed the CPI hike to rebounding cost of pork (up 3.19 per cent), and floods and storms which led to higher price of vegetables (2.56 per cent).

On the contrary, abundant food supply and lower petrol prices led to a cut of 0.14 per cent of CPI.

The Department of Price Statistics reported that basic inflation saw a month-on-month surge of 0.11 per cent and a year-on-year increase of 1.3 per cent.

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