Friday , June 21 2024

November’s CPI grows 3.45%

The consumer price index (CPI) for November has gone up by 0.25% compared to the previous month and 3.45% to the same period last year, announced the General Statistics Office (GSO) on Nov. 29.

The reasons behind the higher CPI include some localities raising the cost of healthcare services and tuition fees as per regulations, as well as domestic rice prices further rising due to an increase in the export price of the product.

Against October, eight among the 11 groups of essential goods and services experienced price increases, two saw price decreases, and the cost of the equipment and household items group remained unchanged.

On average for the first 11 months, the index grew 3.22% year-on-year, with the core inflation rate up by 4.27%. During the period, the highest CPI increase was recorded in January at 4.89%, followed by a gradual decrease until June, which recorded an increase of only 2%.

Factors contributing to the CPI rise between January and November included average airfare index which soared by 87.29% annually, primarily due to the costs of airlines and the high demand for travel, especially during holidays and summer vacations.

Train and bus ticket prices also went up by 29.67% and 7.43%, respectively. Meanwhile, the education, food, and household electricity price indices rose by 7.35%, 6.67%, and 4.55%, respectively.

Among the factors reducing the CPI in the 11-month period, the most significant was a decrease in the price index of petroleum products, at 12.12%.

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