CPI increases by 0.31 % in January: GSO

Việt Nam’s General Statistics Office headquarters in Hà Nội. VNA/VNS Photo

HÀ NỘI Consumer Price Index (CPI) for January 2024 increased by 0.31 per cent compared to the previous month. Year-on-year, January CPI saw a 3.37 per cent rise, and core inflation increased by 2.72 per cent, according to a monthly report released yesterday by the General Statistics Office.

It said that an upturn was seen in the prices of nine groups of products and services, while a downturn was recorded in those of two remaining groups.

The highest rise was seen in the prices of medicine and healthcare services at 1.02 per cent, contributing 0.05 percentage point to the overall CPI increase. It was followed by housing and construction materials at 0.56 per cent, transportation services at 0.41 per cent, the group of other goods and services at 0.4 per cent, and food and catering services at 0.21 per cent.

The two groups recording fall in prices were post and telecommunications (0.05 per cent) and education (0.12 per cent).

The gold price index in January 2024 experienced a 2.55 per cent increase compared to December 2023 and a 15.43 per cent rise compared to the same period last year. The US dollar price index in January 2024 rose by 0.52 per cent compared to December 2023 and increased by 3.69 per cent compared to the same period last year.

Total foreign direct investment in Việt Nam, as of January 20, 2024, has soared to US$2.36 billion, marking a substantial 40.2 per cent uptick from the same period last year,

Foreign direct investment (FDI) in the Southeast Asian economy during January 2024 is projected to reach $1.48 billion, reflecting a 9.6 per cent increase year-on-year. Việt Nam’s outbound investments have surged, with 11 newly certified projects totalling $16.2 million, a 9.3-fold increase from the same period in the previous year.

State budget expenditures in January are anticipated to reach VNĐ31.1 trillion ($1.26 billion), constituting 4.4 per cent of the yearly plan. This marks a 12.5 per cent surge compared to the same period in the previous year, outperforming January 2023’s 3.8 per cent. 

Meanwhile, state budget revenue is estimated at VNĐ43.7 trillion, or 2.6 per cent of the annual plan. Concurrently, state budget expenditure for the same period is expected to reach VNĐ46.4 trillion, constituting 2.2 per cent of the annual plan.

Retail sales of goods and consumer service revenue for January 2024 are estimated at VNĐ524.1 trillion. This represents a 1.6 per cent increase from the previous month and an 8.1 per cent increase compared to the same period last year, excluding the 5.8 per cent price factor increase, compared to 9.1 per cent in January 2023.

Preliminary import and export turnover of goods from January 1 to January 15, 2024, amounted to $29.78 billion, indicating a 5.4 per cent increase compared to the same period last year. Exports rose by 4.1 per cent, and imports increased by 6.8 per cent, resulting in a trade surplus of $0.38 billion. As of January 15, 2024, the export turnover of goods reached $15.08 billion, up by 4.1 per cent from the same period last year.

In terms of export goods structure as of January 15, 2024, the processed industrial goods group reached $13.35 billion. Import turnover of goods as of January 15, 2024, is recorded at $14.7 billion, marking a 6.8 per cent increase compared to the same period last year. Concerning the import goods structure as of January 15, 2024, the raw material production group reached $13.83 billion, accounting for 94.1 per cent of the total import.

Việt Nam’s proactive promotion and marketing policies in tourism have paid off, with international visitors exceeding 1.5 million in January 2024. This signifies a 10.3 per cent increase from the previous month and an impressive 73.6 per cent surge compared to the same period last year. VNS