HCM City’s Feb CPI sees 9-month high

HCM City’s CPI (consumer price index) in February rose by 1.32% over the previous month, marking the highest rise in recent nine months. This is also the first time the hub city’s CPI has exceeded the threshold of 1% after being controlled at below 1% for seven months, according to HCM City Statistics Bureau.
In comparison with December 2011, the city’s CPI in February soared 2.22%; lower than the rise of 2.63% in the first two months of this year.

The acceleration of HCM City’s CPI in recent four consecutive months has been also the general trend of the national CPI but the rises of previous months were little lower. Considering the recent trend together with the data of Hanoi’s CPI increase at 1.45% this month, the national CPI this month is forecasted to only increase at around 1.4%.

Back to HCM City’s CPI issue in month, the most notable evolution in this market was that the food prices “stirred up” the city’s CPI this month.

From the relatively low increase in the previous month (0.53%), the city’s food CPI surged by 2.45% this month. This was also the main reason pushing up the price index this month to higher level than last month. The CPI of restaurant group whereby also soared 2.37% month on month.

Conversely, CPI of the foodstuff group suddenly slipped slightly by 0.25% month on month.

Amongst commodity items, the group of post and telecommunications also fell by 0.56% on months and the remaining 10 goods groups increased in prices. CPI of drink and tobacco also suddenly rose by 1.29% in month, the group of housing and construction materials continued to accelerate strongly and increased 2.96% and the group of garment, headwear and footwear surged 0.9% versus the previous month.

In comparison with February 2011, HCM City’s CPI this month rose 15.4%.

Recently, Hanoi Statistical Office also announced the capital city’s CPI in February increased 1.45% month on month. – Vietbiz24

Tags: Vietnam CPI, Vietnam CPI 2012, Vietnam economic news, Vietnam economy, Vietnam economy 2012

Posted by VBN on Feb 22 2012. Filed under 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