Vietnam’s CPI up slightly in November

Vietnam’s consumer price index (CPI) in November went up 0.13% monthly, 2.62% annually and 2.38% from the last December, reported the General Statistics Office (GSO).

vietnam’s cpi up slightly in november hinh 0

The 11-month CPI rose 3.61% year-on-year. 

Eight out of the 11 commodity groups enjoyed rises, with the highest growth of 0.68% seen in transport. It was followed by medicines and health services (0.2%); apparel, headwear and footwear (0.15%); goods and other services (0.14%); food and catering services (0.11%).

Only prices of housing and construction materials, post and telecommunications, and culture, entertainment and tourism dropped. 

Do Thi Ngoc, deputy head of the GSO’s Prices Statistics Department, attributed the price hike to the recent flood in the central region which pushed up food prices in Phu Yen (1.62%), Ninh Thuan (1.51%), Khanh Hoa (1.05%), Quang Ngai (0.98%) and Binh Dinh (0.74%). 

Petrol price adjustments on November 4 and November 20 also raised transport prices by 0.68%. Health service price hikes in Quang Ninh, Quang Tri and Bac Lieu and higher tuition fees in Quang Ninh and Bac Lieu also contributed to CPI growth. 

Falling prices of pork, iron and steel, domestic tours curbed CPI hike. 

According to the GSO, core inflation that is the CPI excluding food and beverages, energy and State-controlled services like healthcare and education, in November rose by 0.06% from the last month, and 1.32% year-on-year.

The average core inflation in the first 11 months was estimated at 1.44%, lower than the previous forecast of 1.6 – 1.8% indicating the effectiveness of the current monetary policy.

The CPI in December is predicted to rise slightly from the previous month, mostly due to adjusted prices of food, health care services, construction materials and petrol.

VNA

Related news