HCMC sees lowest CPI rise since September, 2010

The Ho Chi Minh City General Statistics Office announced October 20 that the city’s average consumer price index (CPI) in October increased only 0.18 percent as compared to last month, the lowest monthly increase since September last year.

As many as 4 out 11 commodities saw lower prices in October. Prices of utilities including electricity, water, fuel and building material fell by 0.8 percent, prices of telecommunication were down by 0.4 percent, prices of other goods and services fell 0.3 percent and transport costs fell 0.27 percent.

The other 7 out of 11 commodities showed a rise, of which 3 items increased more than 1 percent.

Education saw the highest price hike at 2.16 percent. Cost of education hiked for a second month as school year began in September. College fees rose 7.13 percent, high school fees were up 5.88 percent, private kindergarten fees were up 1.94 percent and vocational training fees were up by 0.42 percent.

Medicines and healthcare products increased by 1.11 percent due to rising prices of imported goods and related services.

Household appliances rose by 1.1 percent.

Other groups saw price hikes less than 1 percent, and prices of food and restaurant services rose only 0.06 percent in the month.

Meanwhile, Hanoi’s CPI increased by 0.13 per cent in October as against last month, a 20.43 per cent increase over the same period last year, the Hanoi Statistics Office announced on October 19.

The office said that Hanoi’s CPI is the lowest single monthly increase since May of last year.

This month, prices of livestock and poultry saw a significant drop of 2 percent, following the same declining pattern set last month in the food sector.

The cost of housing, electricity, water, fuel and construction materials also declined, mainly because of falling global gas prices.

Despite falling food prices, restaurant and catering services witnessed the highest price increase of 1.35 percent, due to rising costs in shop rentals and staff wages.

The CPI in Vietnam is currently assessed by 11 items: foods, restaurant services, beverages, textiles, medical services, transportation, post and communication, educational services and electricity and construction materials.

Source:SGGP,VNA – Translated by T.Huong

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