According to the General Statistics Office, compared to December 2023, the CPI in November increased by 2.65% and compared to the same period last year increased by 2.77%. In the 0.13% increase in the consumer price index (CPI) in November 2024 compared to the previous month, there were 8 groups of goods and services with increased price indexes and 3 groups of goods with decreased price indexes.
The groups of goods and services with increased price indexes include: housing, electricity, water, fuel and construction materials group with the highest increase of 0.87% (in which kerosene price increased by 3.57%, gas price increased by 2.25%...); other goods and services group increased by 0.29% (in which jewelry price increased by 2.35% according to domestic gold price); beverage and tobacco group increased by 0.26%, mainly due to the increase in raw material price for beverage production and US dollar exchange rate; culture, entertainment and tourism group increased by 0.2%; education group increased by 0.11%...
Three groups of goods and services had a decrease in price indexes, including: Transportation group decreased by 0.07%; Food and catering services group decreased by 0.22% (of which food group increased by 0.33%; food decreased by 0.5%; eating out group increased by 0.26%); Post and telecommunications group decreased by 0.3%.
In the transportation group last month, air passenger transport prices decreased by 11.04%; rail passenger transport prices decreased by 4.1% due to reduced demand. Gasoline prices also decreased by 0.14% compared to the previous month; used car prices decreased by 0.13%; new car prices decreased by 0.04%.
Besides, some items increased in price such as diesel price increased by 2.96% due to the impact of price adjustments during the month.
According to the General Statistics Office, core inflation in November 2024 increased by 0.24% compared to the previous month and increased by 2.77% compared to the same period last year.
On average, in the first 11 months of 2024, core inflation increased by 2.7% over the same period in 2023, lower than the average CPI increase (3.69%), mainly due to the prices of food, foodstuffs, electricity, education services, and medical services, which are factors affecting the CPI increase but are excluded from the list of core inflation calculations.
Previously in the October report, the Ministry of Finance also presented two inflation scenarios for 2024 based on the target of controlling CPI at 4 - 4.5%.
Scenario one, CPI is forecast to increase by about 3.7% compared to 2023. This is a low inflation scenario, reflecting the stability of the economy in the context of no major fluctuations in energy and food prices.
In the second scenario, CPI could increase to about 3.92% if the price adjustment of public services such as healthcare, education and electricity is more drastic. This scenario reflects pressure from production and consumption cost factors.
