Hanoi Sept cpi slows down to 0.2%, lowest level in 11 months

Hanoi consumer price index (CPI) is estimated to have increased by 0.2% on-month and 17.76% on-year in September 2011, the lowest level in 11 months.

Hanoi consumer price index (CPI) is estimated to have increased by 0.2% on-month and 17.76% on-year in September 2011, the lowest level in 11 months as prices of food fell on higher supply, the local news provider CafeF reported September 20 citing the municipal GSO.

In September, 4 out of 11 baskets of commodities comprising the index saw lower prices, the first time in 2011.

Of note, prices of food and restaurant service, used to be inflation driver, fell 0.02% in September, the first fall year-to-date. In more details, prices of foodstuff fell 0.34%, food down 0.26% but restaurant service up 1.02%.

Higher food supply in the North and stable rice prices helped lower the food prices, the GSO said, adding that after strong price hike in the past months, foodstuff prices also declined.

Hanoi montly CPI in 2010 and 9M/2011

Source: cafef
Hanoi has decided to spare VND475 billion to stabilize prices of essential goods.

However, CafeF did not give details of price changes in other baskets of commodities.

Vietnam adjusted its targets to curb inflation at 17% this year, credit growth below 20 % this year.

Source Scarlet D./ Analyst / StoxPlus

Tags: Vietnam CPI 2011, Vietnam economic, Vietnam economic growth, Vietnam economy, Vietnam economy 2011