Markets & Prices
Last updated: Wednesday, March 29, 2017
Food Price Hike Leads to CPI SurgePosted: Wednesday, November 30, 2016
The consumer price index (CPI) in November saw a month-on-month increase of 0.48 per cent and a year-on-year growth of 4.52 per cent, according to the General Statistics Office (GSO).
Out of the 11 groups of products and goods, nine witnessed price hikes, including transport (up 1.63 per cent); medicines and healthcare (0.9 per cent); restaurants and services (0.49 per cent); housing and building materials (0.49 per cent); garments, textiles, and footwear (0.24 per cent). Educational costs reached a plateau. Telecom service price dropped 0.02 per cent against last month.
Ms. Do Thi Ngoc, Deputy Director of the GSO's Price Statistics Department attributed the CPI hike in November to the sharp increase of food (up 0.71 per cent against last month) in the wedding season. Especially, prices of vegetables rose strongly due to the recent floods in the Central and Southern regions.
The GSO assessed that basic inflation saw a month-on-month surge of 0.1 per cent and a year-on-year growth of 1.87 per cent. In the first 11 months, basic inflation picked up 1.82 per cent.