People's increased demand for travel and shopping during the Lunar New Year is one of the reasons why the CPI in January 2025 increased by 0.98% compared to the previous month.
9 commodity groups increased, 2 groups decreased
According to the report released by the General Statistics Office on the morning of February 6, the consumer price index (CPI) in January 2025 increased by 0.98% compared to the previous month. Compared to the same period in 2024, the CPI in January 2025 increased by 3.63%; core inflation increased by 3.07%. In the 0.98% increase in the CPI in January 2025 compared to the previous month, 9 groups of goods and services had price indexes that increased, and 2 groups of goods had price indexes that decreased.
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| The consumer price index in January 2025 increased by 0.98% compared to the previous month. Photo: Chau Nu |
Specifically, 9 groups of goods and services had price index increases, including: Medicines and medical services group had the highest increase with an increase of 9.47% compared to the previous month, causing the general CPI to increase by 0.51 percentage points.
The transportation group increased by 0.95%, causing the general CPI to increase by 0.09 percentage points, of which: People's travel demand increased at the end of the year, causing air passenger transport prices to increase by 11.08%; road passenger transport and waterway passenger transport both increased by 1.73%. The gasoline price index increased by 2.02%, the diesel price index increased by 4.99% due to the impact of domestic gasoline and oil price adjustments.
The food and catering services group increased by 0.74%, causing the overall CPI to increase by 0.25 percentage points, of which: Food increased by 0.3%; foodstuff increased by 0.97%; eating out increased by 0.33%.
The beverage and tobacco group increased by 0.69% due to increased consumer demand and use as gifts during the Lunar New Year, causing the price of alcohol and beer to increase by 0.8%; cigarettes increased by 0.7%; and non-alcoholic beverages increased by 0.36%.
The group of other goods and services increased by 0.51%, mainly increasing prices in some items such as hair cutting and shampooing services increased by 1.91%; jewelry group increased by 0.95%; wedding services increased by 0.56%...
The garment, hat, and footwear group increased by 0.38% due to increased labor costs, material costs, demand for winter clothing, and preparation for the Lunar New Year.
The housing, electricity, water, fuel and construction materials group increased by 0.35%, mainly due to price increases in some items such as house rental prices increased by 0.84% due to increased demand for renting apartments and boarding houses. In addition, the recent high real estate prices have caused rental businesses to increase prices to match investment costs; house repair service prices increased by 0.74%; prices of other housing-related services increased by 0.27% due to increased demand at the end of the year...
The group of household appliances and equipment increased by 0.31% due to increased consumer demand during the wedding season and the Lunar New Year. Of which, prices of household services increased by 1.73%; prices of blenders and fruit juicers increased by 0.8%; glass, ceramic and porcelain products increased by 0.66%...
The culture, entertainment and tourism group increased by 0.27%, mainly focusing on the following items: Prices of flowers, ornamental plants and ornamental objects increased by 1.59% due to increased demand during the Lunar New Year 2025; package tours increased by 0.64% due to people's travel demand and increased service costs; hotels and guesthouses increased by 0.43%; books, newspapers and magazines of all kinds increased by 0.12%.
Two groups of goods and services with a decrease in price index include: The education group decreased slightly by 0.04%, of which educational services decreased by 0.05% mainly due to Ho Chi Minh City implementing the Resolution of the People's Council on special policies to support tuition fees for public and non-public secondary school students and continuing education students in secondary schools in the 2024-2025 school year.
The post and telecommunications group decreased by 0.12%, of which the price of smart mobile phones and tablets decreased by 0.74%; accessories for smart mobile phones and tablets decreased by 0.72%; regular mobile phones decreased by 0.35%; landline phones decreased by 0.02%; and the price of phone repair increased by 0.27%.
Core inflation in January 2025 increased by 0.42%
Regarding the reasons for the CPI increase of 0.98% in January 2025 compared to the previous month, according to the General Statistics Office, some localities adjusted the prices of medical services according to Circular No. 21/2024/TT-BYT, the prices of transportation services and food increased due to the increased demand for travel and shopping of people during the Lunar New Year of At Ty, which were the main reasons for the increase in the consumer price index (CPI).
Core inflation in January 2025 increased by 0.42% compared to the previous month and by 3.07% compared to the same period last year. Core inflation increased by 3.07% compared to the same period last year, lower than the average CPI (up 3.63%), mainly due to the prices of food, foodstuffs, electricity and medical services, which are factors that increase the CPI but are excluded from the list of core inflation calculations.
Domestic gold prices fluctuate in the same direction as world gold prices. As of January 27, 2025, the average world gold price was at 2,719.63 USD/ounce, up 2.26% compared to December 2024 due to investors' concerns about rising global inflation as some policies of US President Donald Trump, including high tariffs on imports from China, Mexico and Canada, have increased the attractiveness of gold. Domestic demand for gold purchases before the Lunar New Year increased, causing the gold price index in January 2025 to increase by 1.03% compared to the previous month; up 29.13% compared to the same period last year.
As of January 27, 2025, the US dollar price index in the international market reached 108.57 points, up 1.49% over the previous month due to the increase in US government bond yields. Domestically, the average US dollar price in the free market was around 25,518 VND/USD. The US dollar price index in January 2025 increased by 0.21% over the previous month; up 3.98% over the same period last year.
| In 2025, the National Assembly has approved the target of controlling inflation at around 4.5%. According to economic experts, this is not too heavy a target, but we should not be subjective, especially in the context of the world economic and political situation with many rapid and unpredictable developments. |
Source: https://congthuong.vn/ly-do-cpi-thang-12025-tang-098-372497.html
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