CPI increases 0.05% in June

(VOV) -Vietnam’s consumer price index (CPI) in June rose slightly by 0.05% over May’s figure, equal to a year-on-year increase of 6.69%, according to the General Statistics Office (GSO).

June’s price increase has driven the CPI for the past five months up 2.4% over December 2012, or 6.73% higher than last year’s average.

Garment and footwear product prices rose by 0.42 percent due to the high demand from tourism services during the summer holidays.

The GSO also said that the government’s commitment to realizing the VND30,000billion bailout package for the real estate sector has also stimulated prices of construction materials and houses (up 0.02 percent).

Local experts attributed June’s low purchasing power to the prices of some essential products, especially food and restaurant services, which are forecast to continue their downward trend in the coming month,.

The Vietnam Food Association (VFA) said Vietnam has exported nearly three million tonnes of rice as of June 13 and rice prices in June rose by 3 percent, compared to the average during the previous five months. The current export price hovers around US$435 per tonne, the highest since 2011.

Meanwhile, domestic gold prices fell by 4.11 percent in June, while the US dollar/VND exchange rate went up by 0.26 percent.