HCM City CPI down in June
Hanoi CPI plunges 0.17pct in June
This is the most significant fall in CPI since the beginning of this year, the Hanoi Statistical Office announced in a statement on July 20.
Transport services saw the highest fall in prices of 2.9 percent, followed by the housing sector, electricity and water supplies, and fuel and building materials, which all decreased by 1.2 percent. Food and drink services experienced a decline of 0.21 percent.
By contrasts, the fashion industry saw a remarkable growth in CPI with clothes and textiles and hat and footwear products increasing by 1.09 percent and 0.81 percent, respectively.
Prices of other commodity groups marginally rose between 0.02 percent-0.53 percent, excluding those of the postal and telecommunication services, which remained unchanged.
Experts claim that the sharp drop in transport prices is accredited to the Government’s recent slashing of petroleum prices while the slump in food and drink catering services is a result of cheaper food products, especially rice (down 1.51 percent), which enjoyed a fruitful harvest.
Mirroring the trend in Hanoi, July’s CPI in Ho Chi Minh City plunged by 0.57 percent in comparison to the previous month, yet 4.3 percent higher than the same month in 2011.
The cost of transportation, housing and building materials in the city tumbled dramatically by 2-3 percent, while food and drink prices are down 0.57 percent.
CPI is an international benchmark for measuring changes in the price level of consumer goods and services purchased by households.