Electricity and gasoline prices increase together, pushing April CPI up 0.31%

Electricity prices increase, pushing up consumer prices.

In the table published on April 29, the General Statistics Office stated: The increase in gasoline and electricity prices has a direct impact on the increase in the consumer price index (CPI) in the month. The consumer price index (CPI) in April 2019 increased by 0.31% compared to the previous month, the average CPI in the first 4 months of 2019 increased by 2.71% compared to the same period in 2018.

However, the impact of the African swine fever epidemic on consumer sentiment and the Government's consistent flexible monetary policy to maintain the goal of macroeconomic stability have contributed to curbing inflation. Therefore, this is the lowest average increase in the first 4 months of the year in the past 3 years. Compared to December 2019, the CPI in April increased by 1% and increased by 2.93% compared to the same period last year.

During the past month, gasoline prices increased significantly on April 2 and April 7, causing the overall CPI to increase by 0.41%. In addition, train ticket prices increased by 2.76% due to travel demand during the Hung Kings Commemoration Day and April 30 - May 1 holidays, causing the transport index to have the highest increase of 4.29%.

The housing and construction materials group also increased by 0.6% and according to the explanation of the General Statistics Office, mainly due to the average electricity price being adjusted up on March 20, the household electricity price index increased by 1.85% compared to the previous month; gas price increased by 1.42% as well as the price of housing maintenance materials increased by 0.98%. Similarly, many other commodity groups also increased in price such as household appliances and equipment increased by 0.11%; culture, entertainment and tourism increased by 0.1%; beverages and tobacco increased by 0.08%; clothing, hats, footwear increased by 0.06%; education increased by 0.05% due to the increase in the price index of textbooks...

Gasoline prices continue to increase sharply by more than 1,000 VND/liter

During the gasoline price adjustment session this afternoon, April 17, the Ministry of Industry and Trade - Ministry of Finance decided to adjust the prices of all gasoline products with the highest increase of more than 1,200 VND/liter.

This is due to the price of pork decreasing by 3.07% compared to the previous month as consumers are still afraid of African swine fever and have switched to using other foods instead; the price of fresh seafood decreased by 0.18%; the price of poultry eggs decreased by 1.33%; the price of fresh vegetables decreased by 0.93% and the price of some fresh and processed fruits decreased; the price of beef increased by 0.12%; the price of chicken increased by 0.48%; the price of other poultry meat increased by 1.35%.

In addition, although not included in the basket of goods used to calculate CPI, according to the General Statistics Office, the gold price index in April decreased by 0.5% compared to the previous month; increased by 2.78% compared to December 2018 and the USD price index in April decreased by 0.02% compared to the previous month; decreased by 0.46% compared to December 2018.