Vietnam’s consumer price index (CPI) rose 0.45 per cent month-on-month in July, according to the General Statistics Office (GSO).

The rise was attributed to higher prices for food and foodstuff and electricity, due to increasing demand for consumption during the summer holiday season, the GSO said.

Among the eleven groups of goods and services used to calculate the CPI, ten had higher prices than in June, with the group of other goods and services reporting the highest rise, of 2.84 per cent.

Prices of restaurant and catering services rose 0.63 per cent, contributing 0.21 percentage points to the July increase. Food was up 0.31 per cent and foodstuff 0.79 per cent.

Housing and construction materials rose 0.51 per cent against June.

Figures from the GSO show that the average CPI in the first seven months of 2023 rose 3.12 per cent year-on-year.

Core inflation in July increased 0.36 per cent compared to June and 4.11 per cent year-on-year, putting inflation in the first seven months at 4.65 per cent.