Saturday , March 2 2024

Rising pork, poultry prices push inflation up

An increase in prices of pork, poultry and some other products has pushed the Consumer Price Index (CPI) in July up by 0.4 percent from June and 3.14 percent year-on-year.

Pork prices rose 4.29 percent from June on the back of surging animal feed costs. Pork prices are now around VND65,000-72,000 ($2.78-3.08) per kilogram.

Poultry prices went up 1.92 percent during the same period as logistics costs and egg prices rose, with companies beginning to make the traditional moon cake for the annual Mid-Autumn Festival.

Overall, the food category has seen prices rise by 1.6 percent from June.

Transportation prices, meanwhile, fell 2.85 percent as gas prices were adjusted downwards three times this month for a decrease of 8.68 percent from June.

In the first seven months, the CPI went up 2.54 percent year-on-year. Vietnam targets to keep CPI growth under 4 percent each year.

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