Inflation slows in Hanoi

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Báo Tuổi Trẻ English - 78 month(s) ago 7 readings

Inflation slows in Hanoi

Hanoi saw prices rise at the slowest pace in the last 12 months in September -- 0.2 percent month-on-month.

For Ho Chi Minh City the figure was 0.88 percent.

According to the Hanoi Statistics Office, prices of seven out of 11 categories of goods and services rose, six of them by less than 1 percent.

Education rose by 0.98 percent and footwear and garment by 0.91 percent.

Transportation dropped by 0.56 percent while housing, electricity, water, fuel, and building materials fell by 0.01 percent thanks to the petrol price cut in late August.

The Independence Day holiday in early September pushed up the cultural, entertainment, and tourism services by 0.93 percent.

Figures from the HCMC Statistics Office showed that inflation in the first nine months was 14.49 percent.

Education saw an unusually high rise of 4.54 percent due to soaring tuitions at private schools. The figure had been only 1 percent in August.

Nine out of 11 commodities saw price hikes, with the other goods and services category recording the highest increase of 2.49 percent, followed by cultural, entertainment, and tourism services, which rose by 1.3 percent.

The other categories in the basket saw increases of less than 1 percent.

Food and restaurant services have risen the most year-on-year -- 27.68 percent.

Transportation and telecom services were the only two sectors to see prices drop this month, with both recording a marginal 0.07 percent fall.

Newswire VnEconomy quoted an official from the Ministry of Finance’s Price Management Department as saying inflation in September was expected to be 0.7-0.8 percent month-on-month.

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