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July’s price increase sees ‘shorter wave’
The consumer price index (CPI) increase in July was lower than the increases in previous months with the index increasing by 0.52 percent only over June, the General Statistics Office announced this morning.
The lower CPI increase in July broke the continuous increase trend in CPI increases seen in the previous three months: 0.35 percent in April, 0.44 percent in May and 0.55 percent in June.
If compared with December 2008, the CPI in July 2009 was 3.22 percent higher and 3.31 percent higher than in July 2008.
If comparing the CPI in the first seven months of the year with the same period of 2008, the CPI increase, for the first time, was at a one digit level (9.25 percent).
According to Nguyen Duc Thang, Senior Official of GSO, the 052 percent CPI increase in July truly reflects what has happened in the market in the month with the prices of many key goods staying stable.
Also according to Thang, there are two outstanding factors in July 2009 which have influenced the price index.
First, while the prices of food and foodstuff have been stable (CPI of food decreased bv 0.78 percent in prices and of foodstuff increased by 0.06 percent), the prices of non-home meals has increased sharply by 1.16 percent.
Explaining this, Thang said that it is now the tourist season; therefore, prices of meals have risen considerably in many places. Moreover, prices moved up in the days just before the university entrance exams in big cities.
Second, the prices have been influenced by the petrol price increase, which, according to Thang, contributed 0.2 percent to the price increase.
The petrol and oil price increase on July 1 made the prices of two groups (transport means, post services) and housing and construction materials increase by 2.79 percent and 1.92 percent, respectively.
In other groups, CPI saw lower increases of 0.18 percent (education group) to 0.57 percent (culture, sports and entertainment).
When asked about the CPI in the remaining months of the year, Thang predicted that the CPI increases will hover around July’s level.
vietnamnet, vneconomy
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