Vietnam Posts 9.5 per cent Inflation in 2004

Vietnam's consumer price index (CPI) rose 0.6 per cent in December against November, pushing the inflation rate for the whole year to 9.5 per cent in comparison to 3 per cent rate last year as prices of some major goods of food-foodstuff, pharmaceuticals and health care services have increased sharply.

Price of food and foodstuff, which accounts for 47 per cent of the basket of commodities used in calculating CPI, rose 15.6 per cent this year after a jump of 2.8 per cent in 2003 while pharmaceutical prices also increased by 9.1 per cent.

Prices of housing and construction materials were up by 7.4 per cent and transportation 5.9 per cent, the GSO said, while educational costs decreased by 1.8 per cent in 2004.

The local gold market rose by 11.7 per cent this year while the US dollar rose slightly by 0.4 per cent on an annual basis against Vietnamese dong.

• L.D