Hanoi’s Jun CPI rises 1.21pct

Hanoi’s CPI (consumer price index) in June slowed down and increased only 1.21 percent from the previous month, Hanoi Statistics Office reported recently.

With this rise, the capital city’s CPI surged 12.94 percent from early this year. If excluding 2008, Hanoi’s CPI in June saw the highest rise in recent 10 years.

This month surging CPI was attributed by the rise of 10 groups of commodities with three of them seeing rise of over 1 percent.

The group of restaurant and catering service saw the strongest rise of 2.08 percent, of which, food surged 2.93 percent, foodstuff up 0.19 percent and restaurant soared 1.01 percent.

The strong rise in CPI of this group was attributed to the lower supply.

Unlike previous months, the second strongest rise in June CPI wit 1.12 percent belonged to the education group. Explaining for this sudden surge was due to the significantly soaring price of all types of textbooks prepared for the new school year.
Earlier, education publisher has been approved by the Ministry of Finance (MoF) to raise the price of textbooks in the school year 2011-12 by 16.9 percent due to high input costs.

Extreme hot weather in summer was the main reason pushing up the price of beverage so the CPI of drinks and tobacco in June increased 1.09 percent, marking the third strongest rise in June CPI.

The CPI of remaining goods groups increased slightly below 1 percent. Particularly, the group of post and telecommunication remained unchanged from the previous month.

Also in June, the price index of gold and US dollar saw contrary evolutions respectively whereby the gold price surged 0.19 percent on months whereas the US dollar price index down 0.38 percent over the previous month. – NDHMoney

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