HCMC’S JANUARY CPI RISES 2.76% Y-O-Y

HCMC’s consumer price index (CPI) edged up 2.76% year-on-year in January 2024, according to the city’s Statistics Office. This figure was lower than the national average of 3.37%. The country’s inflation target is at below 4% for this year.

Among the 11 groups of consumer goods and services used to calculate the CPI, the prices of 10 groups increased last month.

The most significant price increase was observed in the pharmaceuticals and healthcare services group, which surged by 7.74%. Following closely was the education group, with a 7.5% rise.

Accommodation and construction materials also contributed to the uptick, with prices increasing by 4.45%. The group of other goods and services inched up by 3.72%, while transportation costs drove up the CPI given its 3.1% rise.

Food-dining and culture-entertainment-tourism services saw relatively modest increases of 1.45% and 2.3%, respectively.

The beverage-tobacco group recorded a slight uptick of 1.34%, while the growing consumer demand led to a 0.95% increase in prices of footwear, hats and textiles. Household equipment and appliances picked up a fractional 0.23%.

In contrast, the postal and telecom services category declined by 3.5%.

Source: The Saigon Times