HCM city CPI rises 1.01% in Jan 2011: GSO

Ho Chi Minh City consumer price index (CPI) is forecast to have increased by 1.01% on-month and 9.29% on-year in the first month of 2011 on demand-push factors.

Ho Chi Minh City consumer price index (CPI) is forecast to have increased by 1.01% on-month and 9.29% on-year in the first month of 2011 on demand-push factors on peak season of traditional New Year festival, the city’s Statistics Office said.

On the up side, housing, utilities, fuel and construction materials are four baskets of goods which saw highest price rises of over 2% from December.

Prices of food and restaurant service rose 1.35%, drinks and cigarette rose 1.01% while other baskets of goods edged up from 0.1% -1.35%, the the city’s Statistics Office said.

On the down side, recreational service charges fell by 0.01% while prices of telecommunication and education stood still.

Prices started to heat up as Lunar New Year approaches, prices of fresh seafood, cattle, poultry, fruit and jams rose from 0.57% to 5.68% in the month while only prices of vegetables fell on increasing supply.

The city ‘s GSO said demand for sugar, milk, egg, bean soared 20% and is expected to continue during the Holiday. Demands for drinks also rose causing increasing prices.

On the reverse trend, prices of gold and dollar decreased by 0.03% and 0.78% on-month respectively , a rare move in the past two years.

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