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Country’s CPI rises 11.75 percent in 2010
Vietnam’s consumer price index (CPI) in December reached the record level for the year of 1.98 percent, raising the CPI for the whole year to 11.75 percent, according to the General Statistics Office (GSO).
Most commodities in the last month of the year saw an average price increase of 0.07-3.31 percent, except for post and telecommunication services which were cheaper by 0.02 percent.
The highest growth in price was seen in food and beverages, especially food rising 4.67 percent; Foodstuff with 3.28 percent; and housing and construction materials, 2.53 percent.
Commodities with over-one-percent price increases included garment and textile, hats, footwear, drinks, and tobacco.
The prices for housing appliances, entertainment, tourism, transportation, pharmaceuticals and medical services, and education rose by less than 1 percent.
The prices of gold and US dollar sharply increased by 30 percent and 9.68 percent compared to the level in December last year.
Nguyen Duc Thang, Head of the GSO’s Price Department, attributed the CPI increase to domestic animal diseases, natural disasters, and the hike in average prices of food in the global market.
In addition, prices of many essential materials for production including gas and petrol, steel, cement, fertilizer jumped due to impacts from exchange rate adjustment. The increased purchasing power at the 1,000th anniversary of Thang Long-Hanoi and school fee adjustment also contributed to the unexpected increase.
Meanwhile, high consumer demand on the traditional Lunar New Year and more money to be pumped in the market are expected to affect prices.
The Prime Minister has issued instructions regarding measures to keep prices stable until the Lunar New Year, which will fall in early February.
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