Gasoline prices have pushed the CPI up the most since the beginning of the year.

The consumer price index this month is estimated to have risen by 0.27% - the strongest increase in almost six months - mainly due to the fuel price hike on June 28.

The General Statistics Office has just announced the consumer price index (CPI) for July, showing an increase of 0.27%, the highest since February 2013. For the first seven months of the year, the CPI has increased by 2.68%. This figure remains relatively "safe" compared to the target of keeping inflation below 6.81% this year.

The main driver of price increases in July was fuel. This was followed by a price adjustment.July 17thAlthough not yet reflected in this month's CPI (as the pricing period ends on the 15th), the price increase decision at the end of June has caused the price index in the transportation group to rise by 1.34%, according to statistics. This is the item with the strongest price increase in the CPI basket and may continue to escalate in August, as a representative from the Ministry of Finance stated that the fuel price adjustment on July 17th could add another 0.1% to next month's CPI.

Besides transportation, housing, electricity, water, fuel, and building material prices increased sharply (0.43%), partly due to the impact of rising gas and kerosene prices and the university and college entrance exam season in major cities. Next came the prices of cultural and entertainment services (0.31%), beverages and tobacco (0.29%), and household equipment and appliances (0.26%).

Despite having the largest weight in the index basket, the food and beverage group only increased by 0.1% in July, with food items even experiencing a slight decrease of 0.3%.

Not included in the consumer price index basket, the gold price index, according to the General Statistics Office, continued to fall by 6.28%, while the US dollar price index increased by 0.68% after the surge in late June and early July.

According to VnExpress - TH