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Consumer indexes fall beneath predicted level
Consumer price indexes (CPI) dropped for the fourth consecutive month since September, down 0.68 percent from November, reported the Statistics General Department.
The transport and telecommunications sector led the fall with a decline of 6.77 percent. Sharp drops in transport charges were mostly attributable to a decrease in fuel prices, which now stand at just 11,000 VND per litre, retail, against the record price of 19,000 VND in July. Meanwhile, big discounts offered by telephone and internet service suppliers for Christmas and New Year festivals accounted for reductions in telecommunication.
The frozen real estate market and a shrinking demand for construction have led to a fall of 2.36 percent in prices for properties and construction materials.
Food prices and restaurant services dropped 0.13 percent as compared to the previous month.
Contrary to this trend, the cost of apparel, footwear, drinks, cigarettes, medicine and healthcare services increased from 0.17 to 1.01 percent.
In December gold prices also increased 0.78 percent and the US dollar rose 1.14 percent against the Vietnamese dong.
The CPI in ten surveyed cities and provinces across the country all showed drops ranging from 0.01 percent to 1.38 percent. The surveyed sites were Hanoi , Thai Nguyen province and Haiphong city in the north, Thua Thien-Hue province and Danang city in the central region, Gia Lai and Dak Lak provinces in the Central Highlands , Vinh Long province, Can Tho city and Ho Chi Minh City .
The CPI of 2008 grew 22.97 percent over the 2007 figure, lower than mid-year predictions by economists and management authorities.
However, experts raised concerns about the risk of deflation when the prices are going against the usual trend of rising towards the end of the year.
vna
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