Forecast of price increase pressure in the last months of the year

According to the General Statistics Office, although the price level in the first 6 months of 2023 was basically well controlled, in the following months, the pressure to increase prices may be affected by many factors such as the increase in basic salary from July 1, fuel prices fluctuating according to world oil prices, increasing demand for electricity, increasing prices of medical and educational services according to the roadmap, etc.

In the past 6 months, the growth rate of the consumer price index (CPI) in the province has been basically controlled. Thanks to the stability of prices, the pressure on production costs of enterprises and consumption of people has decreased significantly. In addition, the inflation situation in the world has reduced consumer demand, which is also one of the reasons why commodity prices have not increased.

According to the report of the Provincial Statistics Office: In the first six months of the year, the price of tap water increased by 26.72%; the price of iron, steel, and construction materials increased, causing the price of housing maintenance materials to increase by 10.94% and the price of housing repair services to increase by 19.12%; along with that, the demand for eating out, traveling, vacationing... increased after the Covid-19 epidemic was completely controlled, which were the main reasons for the increase in CPI.

On average, in the first 6 months of 2023, the consumer price index increased by 2.59% compared to the same period in 2022. Of which, 9/11 commodity groups had price index increases, including: Other goods and services increased by 4.64%; household equipment and utensils increased by 4.26%; food and catering services increased by 4.24%; clothing, hats and footwear increased by 3.70%; beverages and tobacco increased by 3.40%; education increased by 3.26%; housing, electricity, water, fuel and construction materials increased by 2.55%; culture, entertainment and tourism increased by 2.00%; medicine and medical services increased by 0.06%.

There are 02/11 commodity groups with decreasing price indexes: Post and Telecommunications and Transport.

On average, in the second quarter of 2023 compared to the same period last year, the consumer price index increased by 2.04%, the gold price index increased by 2.03%, and the US dollar price index increased by 1.88%. Compared to the average CPI increase of the whole country in the first 6 months of 2023, Ha Nam's CPI increase was 0.7% lower.

Jiangnan

Source