Vietnam’s consumer price index (CPI) in November surged 0.4 per cent against October as the Ministry of Trade’s forecast, bringing the inflation index for the first eleven months this year to 7.6 per cent, reported the General Statistics Office (GSO).
The 11-month CPI was also reported to increase by 8.5 per cent over the same period last year.
In November, all the ten groups of products surveyed to calculate the index rose between 0.2 per cent and 0.7 per cent on-month.
The prices of housing and construction materials recorded the highest rise for the third consecutive month. It hiked by 0.7 per cent in the month, reasoning that demand for such kind of products was increasing in the year-end months.
Meanwhile, the prices of garments and textiles-hat-footwear, medicines and health care services, equipment-home appliances, food and foodstuff, and other services, all climbed up 0.5 per cent. In the food and foodstuff category, foodstuff price rose by 0.1 per cent while food soared by 1.1 per cent.
Slight rises were seen in the prices of the educational products, transport and postal, and cultural-sport-entertainment services, which increased by 0.2 per cent.
The GSO said that the capital city of Hanoi registered the highest increase in CPI with 1.1 per cent in the period, followed by the northern port city of Haiphong with 0.8 per cent.
Meanwhile, central Binh Dinh and Mekong delta Tien Giang provinces enjoyed a CPI drop of 0.1 per cent.
The gold price in the country surged 8.8 per cent on-year due to rising prices of gold in the world market.
Meanwhile the price of the US dollar increased slightly by 0.1 per cent on-month as in the past three months.
The index in first eleven months of 7.6 per cent is going far beyond the initial target, which the National Assembly set at 6.5 per cent for this year.
The Trade Ministry has estimated that the CPI would stand at 7.6-7.7 per cent for the eleven months of this year and 8 per cent for the whole year.
Last year, the index hovered at an extremely high rate of 9.5 per cent.
Regarding the CPI rate for next year, the central bank governor Le Duc Thuy at the session of the 11th National Assembly said that the inflation rate in 2006 would be around 6 per cent.
VNA
Vietnamese
