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April CPI picks up over electricity and gasoline adjustment
25/04/2015

The Consumer Price Index (CPI), a calculator for inflation growth, escalated by 0.14 percent from March buoyed from the increase of petroleum and electricity prices, announced the General Statistics Office (GSO) on April 24.

The GSO said the figure for the first four months of the year rose by 0.8 percent compared to the same period last year.

The price bracket saw the sharpest rise in transportation (2.47 percent); followed by housing and building materials (0.84 percent); culture, entertainment and tourism (0.32 percent); home appliances (0.16 percent); and education (0.01 percent).

Meanwhile, price decreases were seen in food and restaurants (0.42 percent), beverage and tobacco (0.01 percent) and telecommunications (0.09 percent).

The GSO said CPI growth was curbed by the drop in food price, triggered by an abundant supply yet dwindling demand after the Tet holiday. In addition, steady CPI in April was spurred by a fall in domestic gas prices.

The price of gold decreased as the dollar strengthened. The inter-bank average exchange rate, quoted by the State Bank of Vietnam (SBV) on April 15, was 21,458 VND/USD. Meanwhile, the rate in free markets stood at 21,620 VND/USD, up 0.74 percent from March.

According to the GSO, inflation rose 0.07 percent against March and 2.2 percent from the same period last year.

The GSO highlighted that the May CPI is likely to continue to rise due to the impact of electricity price adjustments and increasing demand for tourism, food and public transportation during the upcoming long holiday celebrating the Southern Liberation and National Reunification and International Labour Day.-VNA

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