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CPI in HCM City peaks
The consumer price index (CPI) in Ho Chi Minh City grew 1.73 percent in November over the previous month, representing the highest increase of the year, reported the municipal Statistics Department.
The department’s Deputy Director, Nguyen Duc Tri, said on November 20 that the CPI in the southern economic hub rose by an aggregate 7.84 percent in the last 11 months and 9.13 percent year on year.
All the 11 groups of commodities involved in the CPI calculation registered rises in prices, led by foods and restaurant services with a growth rate of 2.76 percent while post and telecommunication had the slowest pace at just 0.02 percent. Other groups of commodities all saw price hikes of more than one percent.
Prices of assorted foods, including husked rice, wheat flour and processed food, surged sharply in November at 6.65 percent. At the moment, ordinary rice retail prices fetch 10,000 VND per kg on average while fragrant rice prices fluctuate between 15,000 VND and 18,000 VND per kg.
Joining in the surging trend were foodstuffs, especially fresh meat prices with a growth rate of 1.45 percent. Except for poultry which saw a 2.27 percent reduce in prices thanks to abundant supply from other provinces, prices of other foodstuffs all grew.
Economists forecast food and foodstuff prices will continue to increase from now till the lunar New Year festival, blaming floods and epidemic outbreaks in various parts of the country.
The group of housing, electricity, water, fuel and construction materials saw an increase of 1.74 percent.
The prices of drinks and cigarettes was up 1.44 percent, medicines and healthcare, 1.49 percent and transportation, 0.32 percent.
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