The latest figures released from the Da Nang General Statistics Office show that Da Nang’s Consumer Price Index (CPI) in August down by 0.2% as compared to the previous month, and up 4.25% over the same period last year.

On average, in 8 months, CPI increased by 2.57% compared to the average of the same period in 2021. Compared to July, 10 out of the 11 main groups of goods and services recorded an increase in CPI, namely: food and catering service up by 0.77%, household appliances 0.66%, housing, electricity, water, fuel and construction materials 0.62%, and other goods and services 0.4%, culture, entertainment and tourism 0.29%, apparel, hats and footwear 0.27%, beverages and tobacco 0.24%, medicines and medical services 0.13%, education 0.12% and post and telecommunications 0.1%. Only the traffic group decreased by 6.69% as compared to the previous month.

Some prominent reasons that made CPI of many groups of goods and services increase from the previous month include the influence of high gasoline prices in the previous months, the cost of input materials, transportation and related expenses over the past months, which drove the price of food and services and out-of-home dining to go up.

In addition, hot weather causes people's demand for electricity and water to increase, leading to a rise in electricity and water usage costs.

However, due to a deep decrease in the traffic group, the CPI of August still decreased as compared to July. Specifically, gasoline prices were adjusted 3 times in August, causing the general petroleum price index to drop by 13.85%, in which gasoline plummeted by 14.55%, lubricating oil down 0.13%, diesel oil down 12.9%. The retail gas prices also declined by 3.77% month-on-month.

Reporting by MAI QUE - Translating by A.THU