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CPI shows mixed results

Update: May, 23/2014 - 08:15

Consumers shop at Ocean Mart in Ha Noi. The consumer price index this month was lower in Ha Noi but higher in HCM City. — VNS Photo Truong Vi

HA NOI (VNS) — The Consumer Price Index (CPI) in May was down by 0.07 per cent from the previous month in Ha Noi but rising 0.36 per cent in HCM City, according to statistics offices' estimates .

In Ha Noi, only food and foodstuff group out of the 11 baskets of goods, which contribute to the calculation of the capital's CPI data, had a price decrease this month. The basket's price, which accounts for the largest contribution in CPI calculation, slid by 0.57 per cent this month (prices of food declined by 0.93 per cent while those of foodstuff declined by 0.73 per cent).

Prices of housing and construction materials including rent, electricity, water, fuel and construction materials rebounded to rise by 0.51 per cent this month after three consecutive months of decline, as prices of kerosene rose by VND130 per litre in the middle of April and prices of cooking gas rose by VND3,000 – 8,000 (14 -37 US cents) per 12 kilo tank in May 1.

Transport prices reported the highest price hike this month, which jumped by 0.53 per cent because of petroleum price hike and the government request to control overloaded trucks that forced transportation owners to raise freight to offset their profits gained from earlier transportation by overloading. In addition, ticket prices for buses were also raised in May.

Prices of gold lost 1.4 per cent this month, tumbling 13.44 per cent on year in May.

Prices of US dollar remained unchanged this month and rose by 0.81 per cent on year this month.

In contrast to Ha Noi, CPI in HCM City increased by 0.36 per cent in May against the previous month, according to the HCM City Statistics Department.

The decrease was due to a hike of food and foodstuff prices in the basket. Prices of food rose by1.41 per cent while those of foodstuff increased by 0.03 per cent as the demand for rice exports was higher.

Prices of housing and construction materials including rent, electricity, water, fuel and construction materials rebounded to rise by 0.38 per cent this month after two consecutive months of decline. Transport prices in the city also reported a jump of 0.19 per cent over the previous month. — VNS





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