The reason why the consumer price index in February increased

Among the 9 groups of goods and services with increased price indexes, the transportation group increased the highest with 3.09%, causing the overall CPI to increase by 0.3 percentage points.

Also according to the statistics agency, core inflation in February increased by 0.49% over the previous month and increased by 2.96% over the same period last year.

On average in the first two months of 2024, core inflation increased by 2.84% over the same period last year, lower than the general average CPI (up 3.67%), mainly due to food, gasoline, and service prices. Health services and educational service prices are factors that impact CPI increases but belong to the group of goods excluded from the list of core inflation calculations.

According to a report by the General Statistics Office, domestic gold prices fluctuate in the same direction as world gold prices. As of February 25, the average world gold price was at 2,037.18 USD/ounce, up 1.11% compared to January due to expectations that the US Federal Reserve (Fed) will loosen monetary policy. after a campaign to increase interest rates to curb inflation.

In addition, the demand for gold increased due to prolonged geopolitical tensions and China’s economic slowdown, pushing investors to seek gold as a safe haven.

Domestically, due to increased demand for buying gold for luck on God of Wealth day, the gold price index in February increased by 2.01% compared to the previous month; an increase of 4.61% compared to December 2023; increased 16.67% over the same period last year. On average, in the first 2 months of 2024, the gold price index increased by 16.05%.

Along with that, domestically, the average USD price on the free market is around 25,115 VND/USD. The USD price index in February 2024 increased by 0.4% compared to the previous month; an increase of 0.92% compared to December 2023; increased 3.89% over the same period last year. The average increase in the first two months of 2024 is 3.79%.