National CPI leaps by 19% this year

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VietStock FI English - 74 month(s) ago 7 readings

National CPI leaps by 19% this year

The national consumer price index (CPI) for this year increased 18.58 per cent against last year, the General Statistics Office (GSO) reported yesterday.

Rice is loaded at a warehouse of Dong Thap Food Co in Dong Thap Province. Rice prices jumped 1.4 per cent in December against November due to impacts from floods in central Viet Nam.

This increase was close to the Government's target in terms of inflation after many policies to curb inflation and stabilise the macro economy were passed, said Nguyen Duc Thang, head of GSO's CPI Department.

However, December had the largest CPI increase in the last three months of the year at 0.53 per cent. The figures were 0.36 per cent for October and 0.39 per cent for November, he said.

Increasing demand for goods and services during the Christmas, New Year and Lunar New Year holidays had pushed prices of products up, he said. Natural disasters and the exchange rate increase between the Vietnamese dong and the US dollar had made prices up.

In December, garments, catering and consumption services, and home appliances saw the largest increase in comparison with last month.

Prices had a year-on-year surge of 12.9 per cent for garments, 17.29 per cent for home appliance and 24.8 per cent for catering and consumption services.

Food prices increased by 0.49 per cent in December against previous months and at 27.38 per cent over last December.

The rice price jumped 1.4 per cent in December against November and 19 per cent compared with last December due to impacts from floods in the centre.

Catering services also rose by 0.57 per cent in December and 23.37 per cent over last December.

The remaining eight good items showed a slight increase at below 1 per cent for December while prices for postal and telecom services reduced by 0.08 per cent.

Goods showing slight price rises in December had high price increase for the whole year, Thang said. For instance, the price of education services increased by 23.18 per cent over the same period last year due to the Government's policy to increase school fees.

Prices also increased by a sharp 16 per cent for transport services due to the high price of petrol and oil, and at 19.66 per cent for housing services and building materials due to high maintenance costs, high rent and high prices for electricity and tap water.

The price for gold reduced by 0.97 per cent in December but increased 39 per cent compared with the same period last year. The price for a US dollar climbed 0.98 per cent in December and 8.47 per cent over last year.

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