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HCM City secures a record low of CPI in July
Drastic measures taken by agencies and businesses to stabilise market prices have paid off in Ho Chi Minh City with the consumer price index (CPI) dropping to 0.54 percent in July, the lowest figure since early this year, according to the municipal statistics office.
However, experts say it is an unsteady drop as the on-going fluctuations in global oil and rice prices, bank interest rates and the spread of animal and cattle epidemics are expected to make a further impact on essential commodities.
By July 2008, the city’s CPI increased by 25.14 percent from a year ago and by 17.11 percent compared to January 2008. Notably, food and foodstuffs rose by 27.8 percent, gold by 21.3 percent and the US dollar by 6.91 percent.
The municipal People’s Committee has asked its relevant agencies to keep a close watch on market developments and strictly deal with any law-breakers. The city has introduced solutions to ensure an adequate supply of the 10 essential commodities such as food, petrol, fertiliser, medicine, steel, cement, coal, sugar, paper and salt.
The city has also asked businesses to apply measures to reduce production costs and increase labour productivity.
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