Vietnam’s consumer price index in November is forecast to have fallen 0.76 per cent on month in November for a second month on lower food and gasoline prices, but up 24.22 per cent on year, the government-run General Statistic Office said on November 25.
To boost growth in the face of the global recession, the government of Vietnam has cut retail prices of gasoline for two times so far this month, and the central bank lowered benchmark rates to 11 per cent from 13 per cent, helping to ease the prices of almost all the domestic goods and services.
In the Jan-Nov period, the GSO said the CPI index was up 23.25 per cent.
Food and food services prices are expected to have climbed 37.01 per cent on year but down 0.07 per cent on month. Rice and other foodstuff prices are expected to have risen 49.7 per cent on year, but fall 3.1 per cent on month.
Housing and construction materials costs are estimated to have increased 14.73 per cent on year but drop 4.86 per cent on month.
Transportation costs have risen 19.31 per cent on year but fallen 4.4 per cent on month.
Apparels, footwear and hat have soared 13.07 per cent on year and slightly risen 0.86 per cent on month. Drinks and tobacco have increased 13.83 per cent on year, and been up 0.90 per cent on month. Medicines have been up 9.72 per cent on year and up 0.28 per cent on month.
The GSO’s subindex that measures prices in cities is estimated to have risen 24.29 per cent from a year earlier but fallen 0.498 per cent from October. Prices in rural areas are estimated to have increased 24.21 per cent on year but dropped 0.96 per cent on month.
The government usually issues CPI figures based on estimates before the end of the reporting period.
In Vietnam, gold prices are estimated to have risen 8.26 per cent on year but decreased 5.8 per cent on month. The GSO also said that by end-November, the U.S. dollar will have been up 4.91 per cent on year against the Vietnamese dong and up 2.1 per cent on month. The central bank set dollar value on November 25 at VND16,481.
Early this week the Ministry of Planning and Investment forecast the country’s full-year CPI at 22 per cent for 2008. (GSO November 2008)
Vietnamese
