HCM CPI Quickens 1.07% in July 2011

Ho Chi Minh city’s Consumer Price Index (CPI) quickens to 1.07 % in July compared to 0.69% in June, and rose 17.89% on year, the city’s General Statistics Office (GSO) said.

Ho Chi Minh city consumer price index (CPI) is estimated to have increased by 1.07 % in July and rose 17.89% against July 2010, driven by soaring prices of food and restaurant services, the Ho Chi Minh city Statistics Office said.

In July, 10 out of 11 baskets of commodities comprising the index saw the price hike except for prices of post and telecom services fell 0.01%.

The biggest price hikes in the month were seen in food and restaurant service group of which food prices rose 0.35% in the month and the foodstuffs advanced 1.92%.

Prices of other staples saw mild rises including garment and footwear staples, housing, utilities, fuel, construction materials, household utensils and appliances, medicine and healthcare services, transport, tourism and recreation services.

The July figure sent the index up 12.73% from December 2010 and on average, CPI rose 13.36% in the first seven months of the year. In Vietnam, inflation target is based on the average CPI increase.

In July, gold prices advanced by 0.85% on-month, 34.1% on year while those of US dollars fell by 0.03% on-month but up 8.01% on year.

Vietnam raised inflation target to 17% in 2011. – Stoxplus.com

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

Posted by VBN on Jul 20 2011. Filed under Consumer price index, Economy News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry