Vietnam CPI estimated to rise 1% in September

Vietnam CPI is estimated to rise between 0.8%-1% on-month in September, the online newspaper Saigontiepthi reported on September 24, citing the Price Control Department under the Ministry of Finance.

The prices of necessaries continued to increase in the first 20 days of September. The imported milk inched up between 5%-10%, rice increased to the highest level in the first eight months of this year of VND6,600 per kilo from September 5 in the Mekong Delta River region, retail prices of sugar were sold between VND21,000/kg-VND22,000/kg, up VND1,000/kg.

Besides, the supermarkets in the southern area such as Intimex, Ace Mart, Fivimart have raised the prices of goods in the recent time, including garment (+12%), cosmetic (+8%), home appliances (+5%).

The biggest price increase was seen in education, rising 7.17% in Hanoi and 5.57% in Ho Chi Minh city due to the school fee upward adjustments in all levels.

In HCM City, the municipal Statistics Office said prices of other 9 sectors of goods and services rose between 0.02% and 1.51% on-month. National Day holiday boosted the prices of entertainment sector which soared 1.51% from August. Prices of essential goods such as meat, seafood, egg, sugar, wheat were all up.

In the opposite site, the local wholesale steel prices fell VND150,000/ton to an average price of VND15.6/ton at steel factories. The local steel firms managed to keep prices unchanged in the beginning of September, though they discounted more for agencies as the price of the world steel bullet fell to $600/ton, from $600-$630/ton in August and scrap steel dropped to $400-$450/ton, Nguyen Tien Nghi, Vice president of Vietnam Steel Association(VSA) said.

Earlier, consumer price index of Hanoi and Ho Chi Minh City, two biggest cities in Vietnam, in September is estimated to have risen 0.96% and 0.97% from August, respectively, the highest level in 6 months, driven by a jump in prices of education and essential goods, the municipal statistics departments said.

Vietnam CPI is estimated to increase between 0.4%-0.5% on month in October, the Price Control Department also forecast.

Tags: Vietnam CPI, Vietnam CPI 2010, Vietnam economic, Vietnam economy