“In February 2025, US tax policy announcements led to concerns about escalating trade wars. This boosted investment demand for gold as a safe asset,” the Statistics Office said.
Data just released by the General Statistics Office (Ministry of Finance) on the morning of March 6 showed that in the first two months of 2025, the average consumer price index (CPI) increased by 3.27% over the same period last year; core inflation increased by 2.97%.
Statistics also show that domestic gold prices fluctuate in the same direction as world gold prices.
As of February 28, the average world gold price was at 2,898.22 USD/ounce, up 6.92% compared to January 2025.
“In February 2025, US tax policy announcements led to concerns about escalating trade wars. This boosted investment demand for gold as a safe-haven asset. At the same time, central banks continued to buy gold to diversify reserves and protect assets from currency fluctuations,” the Statistics Office said.
Domestically, the demand for gold shopping for luck on the God of Wealth Day after the Lunar New Year increased, causing the gold price index in February to increase by 4.72% compared to the previous month. At the same time, it increased by 32.57% compared to the same period last year; increased by 5.8% compared to December 2024.
On average, in the first two months of 2025, the gold price index increased by 30.84%.
In addition, according to the General Statistics Office, the increase in pork prices due to supply shortages, the increase in prices of eating out, rental housing prices and transportation service prices due to consumer demand are the main reasons for the CPI in February 2025 to increase by 0.34% compared to the previous month; increase by 1.32% compared to December 2024 and increase by 2.91% compared to the same period in 2024.
According to the statistical unit, in the 0.34% increase in CPI in February 2025 compared to the previous month, there were 9 groups of goods and services with increased price indexes and 2 groups of goods with decreased price indexes.
Of which, 9 groups of goods and services had price index increases, including: the transportation group increased the most with 0.63% (making the general CPI increase by 0.06 percentage points); the housing, electricity, water, fuel and construction materials group increased by 0.55%; the food and catering services group increased by 0.43%; the medicine and medical services group increased by 0.31%.
Along with that, the other goods and services group increased by 0.18%; the culture, entertainment and tourism group increased by 0.17%; the beverage and tobacco group increased by 0.12%; the household equipment and appliances group increased by 0.05%; and the education group increased slightly by 0.02%.
On the contrary, two groups of goods and services with decreasing price indexes are post and telecommunications and clothing, hats, and footwear.
Core inflation in February 2025 increased by 0.3% over the previous month and by 2.87% over the same period last year.
On average, in the first two months of 2025, core inflation increased by 2.97% over the same period last year, lower than the average CPI (up 3.27%), mainly due to the prices of food, foodstuffs, electricity, and medical services, which are factors affecting the increase in CPI but are excluded from the list of goods for calculating core inflation.
Source: https://vietnamnet.vn/cuc-thong-ke-neu-ly-do-gia-vang-tang-vot-2377932.html
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