Wednesday, December 7 2016

VietNamNews

Consumer price index rises 0.33%

Update: April, 25/2016 - 09:00
The price of food in April also increased 1.11 per cent, in the wake of rising rice demands to meet export contracts. — Photo vov

Viet Nam News -HÀ NỘI — The consumer price index in April rose 0.33 per cent against last month, following price hikes of many goods, according to the General Statistics Office (GSO).

Compared with the same period last year, the index increased 1.89 per cent, the office reported.

Deputy director of GSO’s Consumer Price Index Department Đỗ Thị Ngọc said that the rise in April was lower than the rate of 0.57 and 0.42 per cent in February and March.

"The CPI exhibits normal trends. In the first months of the year, when the country’s largest festival of Tết (Lunar New Year) falls in with high rising demands, the rising rate of the CPI is often higher,” Ngọc said.

However, she noted, if compared with April of the past four years, the 0.33 per cent rise of this month was relatively high. In April of the past four years, the CPI index inched up only 0.02-0.14 per cent.

Ngọc attributed the rise to price hikes in eight out of ten items used to calculate the CPI.

According to GSO, during this month, transport charges saw a month-on-month rise of 1.73 per cent due to two petrol price increases. The hike made up the 0.16 percentage points to the country’s CPI index rise.

The price of food in April also increased 1.11 per cent, in the wake of rising rice demands to meet export contracts.

GSO reported the price of housing and construction materials rose 0.71 per cent due to steel price hikes, while gas prices increased 2.61 per cent in the wake of global world price hikes.

Also during the month, the CPI in the country’s largest cities of HCM and Hà Nội increased 0.47 per cent and 0.32 per cent, respectively, the GSO reported.

Ngọc forecast that the CPI in the next few months would be stable after rising in April, and food prices would remain steady due to rising global rice supplies, while rice importing countries, such as Indonesia and the Philippines, are ceasing their rice imports.      

In April, the price of gold saw growth of 0.3 per cent month-on-month, but fell 2.09 per cent year-on-year, while the price of the US dollar inched up 0.05 per cent month-on-month, but increased 4.47 per cent year-on-year, the GSO reported. — VNS

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