June CPI increased by 3.37% year-on-year, marking the biggest annual increase since July 2020.
The consumer price index (CPI) in June increased by 0.69% from the previous month, up 3.37% compared to the end of 2021. This is the largest annual increase since July 2020 (3.39%). ).
On average, in the second quarter, CPI increased by 2.96%. In 6 months, CPI increased by 2.44% over the same period last year.
According to the General Statistics Office, for producer prices, the price index of raw materials – fuel – materials used for production recorded a sharp increase in the first half of the year compared to the same period last year.
Specifically, the producer price index of agricultural, forestry and fishery products in the second quarter increased by 1.84% compared to the previous quarter and by 2.18% over the same period last year. In the first 6 months, this index increased by 1.38% over the same period last year.
Producer price index of industrial products in the second quarter increased by 5.11% over the same period last year. The first 6 months of the year recorded an increase of 4.75%. Producer price index of services 3.57% over the same period last year.
The price index of raw materials, fuel and materials used for production in the second quarter increased by 2.23% compared to the previous quarter and 6.38% over the same period last year. The first 6 months of the year recorded a strong increase of 6.04%.
Meanwhile, the import price index also increased strongly in the first half of the year. Import price index of goods increased by 11.43% over the same period last year. In the first 6 months of the year, the import price index increased 11.21% after a year.
Commodity export price index increased by 8.56% over the same period last year. Gold price index increased 7.4% compared to 2021.
In the previous report, the World Bank (WB) said that Vietnam needs to be careful with inflation risks related to the trend of rising fuel and imported goods prices. This may hinder the recovery of domestic aggregate demand.
Experts say temporary support measures, including targeted direct support, are needed to help poor households cope with rising fuel prices.
Meanwhile, the International Monetary Fund (IMF) also warned that there will be significant risks and uncertainties to Vietnam’s economic outlook. Risks to growth tilt in favor of slowing growth, while risks to inflation tilt toward rising inflation.
In the short term, the immediate external risk is an increase in geopolitical tensions that could negatively affect economic activity and inflation due to weaker external demand, higher commodity prices and prolonged global supply chain disruptions.
@ Zing News
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Source: Vietnam Insider