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CPI prolongs rise in major cities as food costs increase

Update: August, 22/2014 - 09:26

Consumers shop for milk products at Lotte Mart in Ha Noi. — VNS Photo Truong Vi

HA NOI (VNS) — The consumer price index (CPI) in the country's two largest cities continued to rise in August, according to the statistics departments of Ha Noi and HCM City.

The Ha Noi Statistics Department reported that the capital's CPI rose in August by 0.19 per cent over July, and increased 3.32 per cent over the same period last year.

The department added that the CPI increase in the capital city in August is equivalent to the previous month, despite the decrease in staple items, such as housing, building materials, electricity, tap water, fuel and transport costs.

The CPI increase in Ha Noi is attributed to the rising costs in restaurants and food services, which rose 0.38 per cent against the previous month.

Also, the surge of food and foodstuff prices increased by 0.66 per cent against the previous month due to the high demand of the public during the seventh lunar month of this year and the upcoming Mid-Autum Festival.

Additionally, the garment and textile, and footwear groups rose considerably, by 0.38 per cent against July.

In HCM City, the HCM City Statistics Department reported the August CPI was up 0.05 per cent against July.

Five of the 11 baskets of goods saw an increase in prices this month. Among these, restaurant and catering services rose by 0.32 per cent, beverage and cigarette groups saw an increase of 0.05 per cent, garment and education rose by 0.10 per cent and commodity and other services were up 0.17 per cent.

The department added that four of the 11 baskets of goods that saw a decrease were fuel (0.74 per cent), household appliances (0.15 per cent), transportation (0.02 per cent), and culture and entertainment (0.01 per cent), while drug and telecoms remained unchanged.

In August, prices in water and electricity in HCM City continued to fall due to low demand, as the price for materials for housing repairs and maintenance saw a slight decrease. Of note, gas prices were reduced by 1.68 per cent. — VNS

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