CPI rises sharply in September
- Cabinet meeting discusses major tasks for three remaining months
According to the General Statistics Office (GSO), the index in September rose 4.6 percent over the previous month and 9.7 percent over the same month last year.
Electrical generation and distribution grew 12.8 percent during the nine-month period, while water supply and treatment grew 8.4 percent. Manufacturing and processing rose 4.2 percent, while the mining industry saw 4 percent growth.
Car and motorbike parts production skyrocketed by 148.4 percent over the same period last year, while telecommunications equipment production grew by 57.3 percent. Shipbuilding and floating tanks saw a 44.5-percent increase, while production of electronic components rose by 22.3 percent.
The GSO attributed the slowdown in industrial production growth to global economic instability and domestic shortcomings, including high inventories. It noted that the IIP has risen between 10 to 17 percent in stable periods during previous years.
Manufacturing and processing, which represents up to 70 percent of all industrial production value, saw a 6.4-percent increase in the consumption index during the first three quarters, while inventory levels were at 20.4 percent as of September 1.
Around the country, the northern province of Bac Ninh posted the highest IIP growth of 23.5 percent during reviewed period, following by southern Binh Duong province, up 7.9 percent; Dong Nai, up 6.9 percent; the central city of Danang, up 6.1 percent; the northern city of Haiphong, up 5.1 percent; and Hanoi, up 4.3 percent.
Vinh Phuc and Hai Duong provinces saw declines of 4.7 and 1.7 percent, respectively.