The consumer price index (CPI) of Vietnam in 2024 increased by 3.63% compared to the previous year, meeting the target set by the National Assembly (NA), figures from the General Statistics Office (GSO) showed.

The CPI in the fourth quarter jumped 2.87% from the same period of 2023, and that in December soared 2.94% year-on-year.

The increase was attributed to the rising prices of food and services, particularly rice prices following export trends, the impact of natural disasters, and growing demand during holidays and celebrations. The prices of food and services rose 4.03% year-on-year.

The prices of housing, electricity, water, fuels, and construction materials expanded by 5.2% year-on-year. In addition, the prices of drugs and medical services increased by 7.16%; educational services by 5.37%, and transportation by 0.76%.

The GSO also reported that core inflation in 2024 soared 2.71% year-on-year.