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CPI in August up 0.24 percent
The consumer price index (CPI) in August increased by 0.24 percent compared to July, according to the General Office of Statistics.
The CPI over the past eight months rose by 8.31 percent compared to the same period last year, (by 0.35 percent in April, 0.44 percent in May, 0.55 percent in June and 0.52 percent in July).
Economic experts say that two of the reasons pushing up CPI in August are a rise in petrol prices and preparations for the new school year.
Nine out of ten key products rose by 0.11-1.31 percent in August. Top of the list is transportation and postal services at 1.31 percent due to petrol price hikes, closely followed by houses and construction materials at 0.93 percent.
To prepare for the new school year, some products increased slightly, such as garments and footwear up 0.52 percent and books and school materials up 0.15 percent.
However, food and services slid by 0.08 percent, with food alone falling by 0.42 percent.
The two cities of Hanoi and Ho Chi Minh City saw a smaller rise with Ho Chi Minh City climbing by 0.22 percent, lower than the country’s average.
In August, the price of the US$ also rose by 0.13 percent compared to July, making the US$, by 6.36 percent compared to December 2008 and 9.02 percent compared to the same period last year. Similarly the price of gold rose by 1.75 percent in August, an eight-month rise of 26.08 percent compared to December of 2008 and 9.44 percent compared to the same period last year.
The General Office of Statistics says that September will witness important events, such as National Day, September 2, the new school year and the Mid-Autumn Festival so the CPI will continue to increase slightly by around 0.3-0.4 percent. At the current rate, the CPI in 2009 should be in single figures as expected.
vov
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