According to data released by the Statistics Office (Ministry of Finance) on the morning of March 6, in the first two months of 2025, the CPI increased by 3.27% compared to the same period last year; core inflation increased by 2.97%. In the 0.34% increase of CPI in February 2025 compared to the previous month, there were 9 groups of goods and services with increased price indexes, 2 groups of goods with decreased price indexes.
Of which, the traffic group had 0.63% (making the general CPI increase by 0.06 percentage points). The housing, electricity and water, fuels and construction materials group increased by 0.55% (implicating an increase in the overall CPI by 0.1 percentage point). The food and beverage service group increased by 0.43% (the impact on the overall CPI increased by 0.14 percentage points).
Basic inflation in February 2025 increased by 0.3% compared to the previous month and increased by 2.87% compared to 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%).
Regarding the gold price index, the Statistics Office said that domestic gold prices fluctuated in the same direction as world gold prices. As of February 28, 2025, the average world gold price was at 2,898.22 USD/ounce, up 6.92% compared to January 2025.
In February 2025, statements about US tax policy led to concerns about an escalating trade war. This has boosted demand for gold as a safe-haven asset. Along with that, central banks continue to buy gold to diversify reserves and protect assets against currency fluctuations.
Domestic demand for gold for garment shopping on New Year's Day after Lunar New Year increased, causing the gold price index in February 2025 to increase by 4.72% compared to the previous month. Accordingly, it increased by 32.57% over the same period last year and increased by 5.8% compared to December 2024. On average, in the first 2 months of 2025, the gold price index increased by 30.84%.
As of February 28, 2025, the US dollar price index on the international market reached 107.31 points, down 1.16% compared to the previous month. The reason is the decline in US government bond yields and the impact of tariffs and trade tensions from the US.
Domestically, the average US dollar price in the free market is around 25,548 VND/USD. The US dollar price index in February 2025 decreased by 0.06% compared to the previous month; increased by 3.52% compared to the same period last year; increased by 0.15% compared to December 2024. On average, in the first 2 months of 2025, the US dollar price index increased by 3.75%.
