Jan 25, 2013

Vietnam - Vietnam’s January CPI up 1.25 per cent

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Vietnam’s January Consumer Price Index (CPI) increased by 1.25 per cent from December 2012.

The General Statistics Office announced on January 24 that CPI is up 7.07 per cent compared to the same period 12 months ago.

Prices in January increased by 0.03-7.4 per cent in 10 out of 11 commodity categories used to calculate the CPI.

The biggest rise was in health services with 9.5 per cent, which contributed to a 0.44 per cent hike in January’s CPI.

The lowest price rise was in transportation. Only the cost of postal and telecommunication services saw a decline – a 0.05 per cent fall from December 2012.

With the Lunar New Year on the threshold, the price of food and restaurant services had been predicted to peak this month, but rose only 1.34 per cent.

Commodity baskets with great purchasing power merely witnessed moderate rises; garments and footwear by 1.3 per cent, tobacco by 0.42 per cent and other goods and services by 0.74 per cent.

Despite rising electricity costs, the price of houses and building materials increased by only 0.36 per cent.

According to the General Statistics Office, the Government and relevant agencies need policies to assist enterprises and local authorities to ensure supply of vital goods to curb a CPI increase in February.

Hanoi and Ho Chi Minh City have stockpiled essential commodities for consumers during the upcoming Lunar New Year.

CPI increased by 0.95 per cent and 0.44 per cent in Hanoi and Ho Chi Minh City respectively this January.


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