Photo for illustration. (Source: hanoimoi.com.vn)

On average, in 2020, CPI increased by 3.23% compared to last year. Thus, the index rose below 4%, fulfilling the target set by the National Assembly and being the lowest rise in the 2016-2020 period.

Ms. Do Thi Ngoc, Director of the GSO’s Department of Price Statistics, said that in 2020, Vietnam has succeeded in controlling inflation thanks to the close and flexible management of the Government, ministries, sectors and localities before the complicated development of the COVID-19 pandemic.

Specifically, 7 out of 11 groups of goods and services saw price increases. The traffic group recorded the highest increase, at 2.45%, due to the impact from adjustments of gasoline and oil prices on November 26, December 11 and December 26, causing a rise of 6.52% in gasoline and oil prices, contributing to 0.23% to overall CPI increase.

Ms. Do Thi Ngoc said that due to high shopping demand during the Lunar New Year (Tet) Festival from January-February, food prices increased by 4.51% annually, bringing up the CPI by 0.17%. Pork prices also moved up the CPI by 1.94% due to unstable supply.

Rainfall and floods in the central region during October-November also hiked prices of fresh, dried and processed vegetables.

Groups of goods and services with lower price indexes include: restaurant and catering services by 0.41%; culture, entertainment and tourism by 0.1% due to the introduction of domestic tourism stimulus programs by travel companies; and housing and construction materials by 0.03%.

The group of post and telecommunications remained unchanged.

Compared to the previous month, the gold price index in December decreased by 0.83% and the US dollar price index decreased by 0.23%./.

BTA