Consumer price index climbs 0.07% in Nov, 0.34% on year

Update: November, 25/2015 - 07:47

The CPI of the two major cities in November also saw an increase of 0.04 per cent in Ha Noi and 0.1 per cent in HCM City in comparison with October. — VNA/VNS Photo Vu Sinh

HA NOI (VNS) — The consumer price index (CPI) in November rose by 0.07 per cent against last month but increased by 0.34 per cent year-on-year, the General Statistics Office (GSO) reported yesterday.

This was the lowest month-on-month growth rate over the past many years, excluding reduction in 2008 and 2014, the office said.

Do Thi Ngoc, deputy head of GSO's CPI Department, said the low growth rate in November was due to the slight rise in prices of nine out of 11 goods and services that were used to calculate the CPI.

Restaurant and catering services saw an increase in prices of 0.05 per cent, along with 0.07 per cent rise in entertainment, culture, and tourism, in addition to education and health care.

Meanwhile, the price of clean water surged by 1.83 per cent, housing and building material rose 0.32 per cent, and textiles, garments, hats and footwear rose 0.14 per cent.

Prices of rice and foodstuff also rose by between 0.2 per cent and 4 per cent due to the high demand for rice for exports and foodstuff for the wedding season.

However, the price of transport services and telecommunication saw a reduction of 0.38 per cent and 0.1 per cent, respectively.

Gold prices dropped by 0.61 per cent in November compared to last month, and 2.28 per cent year-on-year, while the US dollar price this month fell by 0.31 per cent against last month, but increased 4.98 per cent year-on-year.

Inflation in two cities

The CPI of the two major cities in November also saw an increase of 0.04 per cent in Ha Noi and 0.1 per cent in HCM City in comparison with October.

The Ha Noi CPI showed a year-on-year growth in November at 0.76 per cent, the city's Statistics Office said.

In November, the city had the highest growth at 0.37 per cent in prices for housing, fuel and building material due to a price increase of clean water and gas.

Education increased at 0.01 per cent, beverage and tobacco at 0.06 per cent, medicine and health care at 0.07 per cent, and home appliances at a rate at 0.08 per cent.

However, there were services that showed a reduction in prices. They included restaurant and catering services, which were down 0.04 per cent, transport services, down 0.42 per cent, and postal and telecom services, down 0.26 per cent.

In November, gold prices in Ha Noi increased by 0.1 per cent against last month while the US dollar dropped by 0.38 per cent.

Meanwhile, the HCM City CPI rose by 0.1 per cent in November, according to figures released recently by the city's Statistics Office, but prices fell 0.45 per cent, compared with November last year.

In November, prices were down for three of the 11 groups in the basket of commodities used to calculate the CPI while seven posted modest increases.

Housing, electricity, water and gas rose 0.26 per cent month-on-month. Pharmaceuticals and health services rose 0.06 per cent, school fees by 0.04 per cent, and leisure and entertainment by 0.01 per cent.

The food and catering services were up 0.03 per cent, foodstuff remained unchanged and dining out went up by 0.13 per cent. Food prices declined by 0.29 per cent while transport was also down by 0.36 per cent.

Gold and the US dollar in the city fell by 0.79 per cent and 0.49 per cent, respectively. — VNS