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Vietnam's CPI up 3.12 pct in 7 months

HANOI
2023-07-31 16:33

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HANOI, July 31 (Xinhua) -- Vietnam's consumer price index (CPI) in the first seven months of this year went up by 3.12 percent year on year, as the country's core inflation rose by 4.65 percent, according to the latest statistics of the country's General Statistics Office.

In the seven-month period, items posting the most significant price hikes include education with a 7.61 percent rise; housing and construction materials with a 6.58 percent increase; and restaurant and catering services with a 3.92 percent increase, according to the office.

Compared to June, the index grew by 0.45 percent in July, contributed by price hikes for 10 out of the 11 items in the calculation basket. The increase was driven by factors such as rising prices of food and retail electricity triggered by increasing demand during high tourism season, according to the office.

In 2022, Vietnam saw the CPI rise by 3.15 percent compared to the previous year, meeting the below-4 percent target set by its top legislature.

The country has targeted to keep inflation at 4.5 percent in 2023, according to a report by Vietnam News Agency.
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