(VOVworld) – Vietnam’s Consumer Price Index (CPI) has increased 4.09% in 2014. This was an encouraging result against the context the country’s economy is still facing many difficulties as it was far lower than the 7%-target set by the National Assembly.

The General Statistics Office of Vietnam reported on Wednesday that the index experienced the second consecutive decline mainly due to transport costs which dropped 3% in November by fuel price cuts. A decrease in domestic gas prices led to a slump of 0.4% in the category of housing and building materials in December. All other groups have seen a little price rise in December of no more than 1% except transport service and housing.

Fuel price cuts lead to CPI drop. (Photo: VNA)

According to the agency, the domestic gold prices plunged 11.49% in 2014 compared to the same period last year and the US dollar increased slightly by 0.56%.