Gasoline and gas prices set a record, causing CPI to increase in 4 months

According to the data published by the General Statistics Office on April 29, the consumer price index (CPI) in April 2022 increased slightly by 0.18% compared to the previous month; an increase of 2.09% compared to December 2021 and an increase of 2.64% over the same period last year.

On average, in the first 4 months of 2022, the consumer price index (CPI) increased by 2.1% over the same period last year, higher than the increase of 0.89% in the first 4 months of 2021, but lower than the increase of 4 months. the first month of 2017-2020 (the growth rate of the consumer price index in the first 4 months of 2017-2020 compared to the same period last year is: 4.8% increase; 2.8% increase; 2.71% increase); increased by 4.9%), core inflation increased by 0.97%.

The group of goods with increasing prices that pushed up the consumer price index compared to the previous month were beverages and tobacco: Up 0.22%; housing and construction materials increased by 0.58% (in this group, the price of housing maintenance materials increased the most, at 2.02% due to the increase in steel price when the price of raw materials from iron ore, scrap steel … increased sharply; the price of input materials in cement production such as gasoline and coal increased. Besides, the price of some other construction material products also increased sharply such as stone, sand, construction bricks.. .).

Equipment and household appliances group increased by 0.32%; the group of drugs and medical services increased by 0.03%; culture, entertainment and tourism groups increased by 1.16%; the education group increased by 0.96%; group of other goods and services by 0.18%; gold price index increased by 0.73%; USD price index increased 0.07%.

Among 11 commodity groups, only the price index of 2 groups decreased: food and food services (down by 0.05%); traffic: down 0.59%.

Also according to the General Statistics Office, core inflation (CPI after excluding food, fresh food, energy and items managed by the State including health and education services) in April 2022 increased by 0. 44% over the previous month, up 1.47% over the same period last year.

The factors that increase CPI in the first 4 months of 2022 according to the General Statistics Office are gasoline prices being adjusted 10 times, making A95 gasoline prices increase by 4,700 VND/liter; E5 gasoline price increased by 4,580 VND/liter and diesel oil price increased by 7,780 VND/liter.

On average, in the first four months of the year, domestic gasoline prices increased by 48.84% over the same period last year, causing the overall CPI to increase by 1.76 percentage points.

Along with that, domestic gas prices fluctuated according to world gas prices, gas prices in the first 4 months increased by 24.6% over the same period last year, contributing to the overall CPI increase of 0.36 percentage points.

The price of housing maintenance materials in the first four months of the year increased by 8.51% over the same period last year due to the increase in the price of cement, iron, steel and sand in line with the price of input materials.

The General Statistics Office also pointed out that core inflation in April 2022 increased by 0.44% over the previous month, up by 1.47% over the same period last year. On average, in the first 4 months of 2022, core inflation increased by 0.97% over the same period in 2021, lower than the general average CPI (up 2.1%), this reflects mainly consumer price fluctuations. due to food and food prices and gasoline and oil prices.