Hanoi posts CPI increase of 3.28% in April

Hanoi’s consumer price index (CPI) in April saw a month-on-month record increase of 3.28 percent, the highest level over the last 26 months, the municipal Statistic Office reported.

The rate represents an increase of 17.51 percent against the same period last year.

Transport posted the highest rise of 5.82 percent due to the increases in petrol prices, prompting taxi service suppliers to add 500-800 VND per km to their charges and other transport service businesses to raise fares by 10 to 20 percent.

Large increases in food prices also pushed the prices of restaurant services up 5.06 percent, while housing, electricity, water, fuel and construction materials recorded a 4.28 percent rise because of a gas price increase of 5,000 VND per kg.

According to experts, consecutive CPI increases in recent months will place high pressure on the economy and the Government target of curbing inflation at 7 percent or less in 2011.

In April, the gold price saw a slight decrease of 1.39 percent over the previous month but a 40.43 percent increase year-on-year.

vietnamplus

>   CPI in HCM City increases 3.16%  in April (20/04/2011)

>   Seven provinces to expand e-customs (20/04/2011)

>   WTO commitments require legal reforms (20/04/2011)

>   Infrastructure draws private investment (20/04/2011)

>   Poor need long-term inflation relief through jobs: Economists (20/04/2011)

>   Mekong Delta has better competitiveness (20/04/2011)

>   Business confidence index continues falling (19/04/2011)

>   City targets thrift in fuel and water use (19/04/2011)

>   Inflation data could spur rate increase (19/04/2011)

>   Gov't earmarks $1.6b for road traffic safety (18/04/2011)