November CPI climbs highest in nine years

SGGP
The General Statistics Office of Vietnam (GSO) has just announced that consumer price index (CPI) in November rose by 0.96 percent compared to the previous month, the highest level of CPI in November in the past nine months.

An important reason that made CPI strongly increase was a sharp decline in pork supply which caused prices of pork and pork products to jump heavily. (Photo: SGGP)

An important reason that made CPI strongly increase was a sharp decline in pork supply which caused prices of pork and pork products to jump heavily. (Photo: SGGP)

CPI climbed by 3.78 percent compared to December last year and by 3.52 percent over the same period last year.

According to the GSO, an important reason that made CPI strongly increase was a sharp decline in pork supply which caused prices of pork and pork products to jump heavily. Particularly, prices of pork has risen by 18.51 percent in November, making CPI to surge 0.78 percent. Besides, prices of products made from pork and prices of alternate products also went up.

However, 11-month CPI merely edged up 2.57 percent over the same period last year, the lowest 11-month CPI growth rate in the last three years.

In the CPI growth of 0.96 percent, nine out of 11 commodity and services groups posted increases over the previous month. Of which, restaurants and catering services saw highest growth with 2.74 percent, of which, food inched up 0.26 percent; foodstuff hiked 4.11 percent. Beverage and cigarette added up 0.2 percent.

Housing and building materials augmented 0.13 percent, mainly because domestic gas prices advanced as of November 1, causing gas price index to climb 0.99 percent; rent increased 0.38 percent and home repair services rallied 0.4 percent. Garment, footwear and hats moved up 0.12 percent. Household appliances mounted up 0.1 percent. Medicine and healthcare and education both grew 0.04 percent. Culture, entertainment and tourism edged up 0.03 percent. Other goods and services gained 0.16 percent.

Meanwhile, transportation declined 0.73 percent, thanks to adjustments in fuel prices on October 31 and November 15. Postal services and telecommunication slid 0.09 percent.

By Anh Phuong – Translated by Thuy Doan

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