The Consumer Price Index (CPI) this month increased by 0.39 percent compared to the previous month, the General Statistics Office (GSO) reported.
This month’s CPI grew by 4.37 percent over the same period last year.
CPI in 11 months of this year on average increased by 3.02 percent over the same period last year; while core inflation rose by 2.38 percent.
GSO pointed out that the increase in CPI in the first 11 months of this year was attributed to gasoline prices, which were adjusted 31 times from the beginning of the year.
On average, in the first eleven months of this year, domestic gasoline prices rose by 31.76 percent compared to the same period last year.
Domestic gas prices fluctuate according to world gas prices, gas prices in 11 months of this year increased by 12.76 percent year-on-year.
The COVID-19 pandemic was under control, and the demand for eating out grew, so the average price of meals outside the home in 11 months increased by 4.78 percent over the same period last year.
Housing and construction materials rose by 2.75 percent.
Domestic rice prices increased in line with export prices, making rice prices in 11 months rise by 1.2 percent year-on-year, causing the overall CPI to grow by 0.03 percentage points.
Prices of food items in the first 11 months grew by 1.32 percent over the same period last year.
Along with that, the price of educational services grew by 0.47 percent because some provinces and municipalities increased tuition fees for the 2022-2023 school year.
Besides the reasons for the increase in CPI, there are a number of reasons for the decrease in CPI in 11 months such as decreasing pork prices.
The pork price declined by 12.22 percent year-on-year due to the good control of African swine fever and guaranteed supply.
GSO also pointed out that core inflation increased by 0.43 percent this month compared to the previous month, by 4.81 percent compared to the same period last year, higher than the average CPI.
The high price of fresh food is the main factor restraining the CPI growth rate this month.
The average core inflation in the first 11 months increased by 2.38 percent over the same period last year, lower than the general average CPI, which reflects the fluctuations in consumer prices mainly due to food prices and gasoline and oil prices.