Vietnam’s CPI in November up 0.13% from previous month

Wednesday, 2017-11-29 16:25:18
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NDO - The consumer price index (CPI) in November rose by a slight 0.13% against the previous month and 2.62% from a year earlier, according to the General Statistics Office (GSO).

The average CPI in the first eleven months of 2017 increased by 3.61% compared with the same period last year.

Price rises were recorded in 8 out of 11 groups of goods and services used to calculate inflation, with the largest gain seen in transport costs, up 0.68% month on month, followed by 0.2% in healthcare and 0.15% in footwear and clothes.

Meanwhile the prices of building materials, postal and telecommunications services, and entertainment and tourism went down in November as the demand for construction and travel declined.

According to Do Thi Ngoc, deputy head of the GSO’s price statistics department, the CPI increase in November was mainly caused by rising food prices as a result of typhoons and higher fuel costs after two rounds of hikes.

In November, domestic gold prices fell by 0.3% against the previous month, fluctuating around VND3.639 million a tael of SJC gold while the US dollar remained relatively stable at VND22,680 a dollar.

According to the GSO, core inflation, which includes the price of food, energy and government-regulated goods, averaged at 1.42% in the first eleven months of the year.

The GSO’s price statistics department projected that CPI in December would increase slightly from November as a result of price rises in food; healthcare costs, building materials and fuel.

In Ho Chi Minh City, Vietnam’s largest economic hub, the cost of living rose slightly from the previous month with November’s CPI up 0.17% monthly and price rises seen in almost all categories of goods and services.