City industrial production continues its growth momentum

Ho Chi Minh City’s Industrial Production Index (IPI) in October increased 5.2 percent over the previous month and 8.7 percent over the same period last year, reported the city Department of Industry and Trade.

Production of rubber products for exports at Saigon Industry Corporation (Photo: SGGP)

IPI increased 6.8 percent in the first ten months this year, up from 5.9 percent a year ago.
Manufacturing and processing sector edged up 6.7 percent, electricity production and distribution hiked 6.3 percent while mining increased only 1.8 percent over the same period last year.
In the first ten months, purchasing power was quite stable at supermarkets, trade center and markets. Prices of food and other necessary items fluctuated little with stable supply sources. Goods and service revenues reached VND530 trillion (US$24.93 billion), accounting for 75.8 percent of the year plan.
Consumer Price Index (CPI) has been under control since the beginning of the year thanks to the price subsidization program.

By Lac Phong – Translated by Hai Mien

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