HCMC: CPI slows down to 0.69% in June

Ho Chi Minh city’s Consumer Price Index (CPI) slows down to 0.69 % in June compared to 2. 38% in May, up 11.54% from the end of 2010, the local newswire NDH Money reported, citing the city’s General Statistics Office (GSO)’s data.

Noticeably, the biggest increases were seen in prices of “other goods and services” and “culture, entertainment and tourism” which soared 2.2% and 1.56% from May, respectively.

Meanwhile, prices of “drinks and tobacco” rose by 0.94% from May as hot weather helped to boost up seasonal demand for drinks.

Household equipment and goods price also edged up 0.94%, local media reported, reasoning that producers were forced to raise prices to make up for rising costs of inputs including interests, oils, labor, etc.

“Restaurant and food services” only inched up 0.79% from May as a result of the city’s price stabilization program and the “Vietnamese use Vietnamese goods” campaign, the local media pointed out, adding that other sectors only see prices slightly up between 0.02% and 0.79%.

Gold and dollar prices continued to move inversely, in which gold increased 0.45% while dollar prices fell 0.57% from May.

Bucking the trend, price of telecommunications remain stable after declining 5.81% on year. – Stoxplus.com

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