CPI 2016 increases by 4.47 percent

The consumer price index (CPI), edged up 0.23 percent in December compared to the previous month and it represented a 4.47 percent year-on-year increase, said the General Statistics Office of Viet Nam this morning.

CPI this year edges up 4.47 percent, says GSO

Accordingly, inflation rate this year is 4.47 percent, 3 percent lower than the goal, as per the General Statistics Office ‘s new way of annual average inflation, it is just 2.66 percent.

For instance, in December, prices of six out of 11 commodities soared. Drug and medical services rose by 5.3 percent; textile and garment, leather and shoes increased by 0.25 percent; beverage and tobacco skyrocketed by 0.21 percent; houses and construction materials inched up by 0.19 percent, other services surged by 0.1 percent and home appliances was up by 0.08 percent.

In addition, telecommunication services and equipment dropped by 0.03 percent; eating services fell by 0.03 percent; culture, entertainment and tourism decreased by 0.02 percent. Education maintained unchanged.

Basic inflation in December rose by 0.11 percent compared to previous month. It has seen a 1.87 percent  year-on-year increase. The whole year basic inflation surged 1.83 percent compared to 2015.

This year's inflation fluctuated from 1.64 percent to 1.88 percent showing monetary policy improved much which help keep macro-economy sustainability and inflation control.

By Anh Phuong – translated by Uyen Phuong

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