Recently released data from the General Statistics Office shows that the consumer price index (CPI) fell by 0.01% in December 2022 compared to the previous month and rose by 4.55% compared to December 2021.

Compared with the previous month, the CPI fell by 0.01% in December 2022 (urban area up 0.04%; rural area down -0.07%). Among the 11 main groups of consumer goods and services, there are 2 groups of goods, the price of which decreased compared to the previous month, and 9 groups of goods, which increased in price.

The education group grew the most in December 2022, up 11.8% from the same period last year, as some provinces and centrally-run cities increased tuition fees for the 2022-2023 school year.

The housing and building materials group rose by 7.14% due to the increase in the price of housing maintenance materials and rental housing. Meal and catering services increased by 5.21%, mainly due to the fight against the Covid-19 epidemic, out-of-home dining services increased by 6.7%; Grocery prices increased by 2.91% and food prices by 5.01%.

The culture, entertainment and tourism group rose 5.02% due to the fight against the Covid-19 epidemic, prices of tours, hotels and restaurants rose with the increasing domestic demand for tourism. The beverage and tobacco group rose 3.79%, mainly due to raw material prices for beverage production, transportation costs and currency appreciation.

Among the two commodity groups that fell in price in December, the transportation group declined 0.16% in December 2022 compared to the same period last year, causing the overall CPI to decline by 0.02 percentage point, mainly due to the decline in Gasoline prices up 0.77% in December, although fares rose 8.86%; Airline Tickets Up 36.69%; Car tickets increased by 16.62%; Public bus tickets increased by 13.83%; Taxi tickets increased by 6.62% and boat tickets by 3.79%.

The post and telecom group fell by 0.25% in December 2022 compared to the same period last year, due to the fall in prices of smartphone accessories.

Also according to the General Statistics Bureau, the average consumer price index rose 0.67% qoq in the fourth quarter, up 4.41% from the same period in 2021, driven by food prices in the fourth quarter. /2022 up 5.05% from the same period last year, resulting in a 1.07 percentage point increase in CPI, with the price of pork and fat rising 7.33% and 14.84%, respectively.

The price of education services rose 12.09% in the fourth quarter from the same period last year as some provinces and centrally-run cities increased tuition fees for the new 2022-2023 school year, increasing the overall CPI by 0.66 percent.

The price of housing maintenance materials increased by 7.45% in the fourth quarter compared to the same period in 2021, due to the increase in the prices of cement, iron, steel and sand in line with the prices of input materials, which contributed to a 0.15 point increase in overall CPI. Percent…

For the full year 2022, the CPI increased by 3.15% compared to 2021, meeting the target set by the National Assembly. The General Statistics Office pointed to a number of reasons for the rise in CPI in 2022. This is because the domestic gasoline price will be adjusted 34 times in 2022, with the price of A95 gasoline falling by VND2,590/litre; E5 gasoline price increased by VND 2,580/liter and diesel oil price increased by VND 4,030/liter. Year-on-year, the average domestic gasoline price rose 28.01% in 2022, bringing the CPI up 1.01 percentage points overall.

The impact of the increase in fuel prices, which will increase air fares by 27.58% in 2022 compared to the previous year; Train fares increased by 10.96%; Car fare increased by 12.15%; Package holiday price increased by 8.27%.

In addition, domestic gas prices fluctuate in line with world gas prices. In 2022, the retail price of gas will be adjusted to increase 5x and decrease 7x. On average, gas will increase by 11.49% in 2022 compared to 2021, which will increase the CPI by 0.17 percentage points overall.

Core inflation rose 0.33% mom in December 2022, up 4.99% from the same period last year, higher than the average CPI increase (up 4.55%), mainly due to gasoline prices Factor slowing down CPI growth Rate in December this year, which belongs to the group of goods excluded from the basic inflation calculation list.

On average, core inflation rose 2.59% in 2022 compared to 2021, below the average CPI (up 3.15%). This reflects consumer price fluctuations, mainly due to food prices, petrol, oil and gas.