Prices of food, gasoline, and rental housing pushed up CPI in October

(PLVN) - According to the General Statistics Office, the increase in domestic food prices, gasoline prices, and rental housing prices are the main reasons for the consumer price index (CPI) in October 2024 to increase by 0.33% compared to the previous month and increase by 2.89% compared to the same period last year.

11/06/2024 10:18

The consumer price index (CPI) in October increased by 0.33% compared to the previous month. (Illustration photo)

(PLVN) - According to the General Statistics Office, the increase in domestic food prices, gasoline prices, and rental housing prices are the main reasons for the consumer price index (CPI) in October 2024 to increase by 0.33% compared to the previous month and increase by 2.89% compared to the same period last year.

This morning (November 6), the General Statistics Office announced the socio-economic situation report for October and the first 10 months of 2024. According to the report, the consumer price index (CPI) in October 2024 increased by 0.33% compared to the previous month. Compared to December 2023, the CPI in October increased by 2.52% and compared to the same period last year, it increased by 2.89%.

The main reason is that food prices continue to increase due to the impact of storms and floods, domestic gasoline prices increase following world prices, and rental housing prices increase. In the 0.33% increase in CPI in October compared to the previous month, there were 10 groups of goods and services with increased price indexes and 1 group with decreased price indexes.

Specifically, the transportation group increased the most with 0.66%; the food and catering services group increased by 0.55%; theeducation group increased by 0.48%, in which the price of educational services increased by 0.53% due to some private kindergartens, colleges, vocational schools, intermediate schools, universities, and postgraduate schools increasing tuition fees; the other goods and services group increased by 0.26%...

On average, in the first 10 months of 2024, core inflation increased by 2.69% over the same period in 2023, lower than the average CPI increase (3.78%), mainly due to the prices of food, foodstuffs, electricity, education services, medical services and gasoline, which are factors affecting the CPI increase but are excluded from the list of core inflation calculations.

According to the General Statistics Office, domestic gold prices fluctuate in the same direction as world gold prices. As of October 27, 2024, the average world gold price was at 2,693.44 USD/ounce, up 4% compared to September 2024.

The world gold price increased due to the increasingly serious geopolitical tension in the Middle East. In addition, the prolonged conflict between Russia and Ukraine and the fluctuations in the Korean peninsula have increased concerns about global political stability. Along with that, the fact that major central banks such as the European Central Bank (ECB) and the US Federal Reserve (FED) continue to implement monetary easing policies has contributed to the increase in gold prices.

Domestically, the gold price index in October 2024 increased by 5.96% over the previous month; increased by 29.97% over December 2023; increased by 38.88% over the same period last year; on average in the first 10 months of 2024, the gold price index increased by 27.48%.

US dollar price index, as of October 27, 2024, the US dollar price index in the international market reached 102.88 points, up 1.91% compared to the previous month due to better-than-expected US economic data, along with escalating geopolitical risks in global hotspots, which are also factors driving the increase in the value of the USD. Domestically, the average US dollar price in the free market is around 25,050 VND/USD.

The US dollar price index in October 2024 increased by 0.7% over the previous month; increased by 2.41% over December 2023; increased by 1.89% over the same period last year; the average increase in the first 10 months of 2024 was 5.1%.

CPI in October 2024 increased by 2.89% over the same period last year. On average, CPI in the first 10 months of 2024 increased by 3.78% over the same period last year.

Core inflation in October 2024 increased by 0.23% compared to the previous month and by 2.68% compared to the same period last year. On average, core inflation in the first 10 months of 2024 increased by 2.69% compared to the same period in 2023, lower than the average CPI increase (3.78%), mainly due to the prices of food, foodstuffs, electricity, education services, medical services and gasoline, which are factors that increase the CPI but are excluded from the list of core inflation calculations.

Source: https://baophapluat.vn/gia-luong-thuc-thuc-pham-xang-dau-nha-cho-thue-keo-cpi-thang-10-tang-post530992.html