CPI declines in both major cities

Wednesday, Dec 24, 2014 08:22

Customers shop at Big C Supermarket in Ha Noi. The consumer price indices fell in the country's two largest cities in December. — VNS Photo Thai Ha
HA NOI (Biz Hub) — The consumer price indices (CPIs) fell in the country's two largest cities in December, according to the statistics departments of Ha Noi and HCM City.

The HCM City Statistics Department reported that the city's CPI in December decreased by 0.36 per cent compared with the rates in November due to the sinking retail selling prices of petroleum and gas. However, the city's CPI still represented a rise of 4.13 per cent compared with the same period last year.

Five out of the 11 baskets of goods, which contribute to the calculation of the capital's CPI data, saw a decline in prices this month. Among those goods, transport recorded the strongest decrease at 3.54 per cent. It was followed by housing, water, electricity and construction materials (0.95 per cent). Culture and entertainment (0.22 per cent), beverage and tobacco (0.18 per cent) and goods and other services (0.06 per cent) saw plummeting prices as well.

Other baskets of goods that witnessed price hikes for the month were telecommunications, restaurants and catering services, garments and footwear, and home utensils, as well as pharmaceutical and medical services.

Following the CPI downtrend, gold prices in December plunged by 0.56 per cent over the previous month, while the US dollar saw a month-on-month decrease of 0.53 per cent.

Meanwhile, the Ha Noi Statistics Department also reported a drop of 0.23 per cent in the city's CPI for December against the previous month. However, an annual rise of 1.55 per cent was recorded.

Only two baskets of goods posted a monthly decrease. These were transport, down by 2.56 per cent, and housing, declining by 1.38 per cent. Meanwhile, the remaining goods recorded a rise in prices, including posts and telecommunications (0.68 per cent), apparel and footwear (0.54 per cent) and culture, entertainment and tourism (0.42 per cent).

The department said that the city's prices had been effectively controlled this year. Only January and February posted the highest CPI at 0.7 per cent and 0.49 per cent, respectively. Consumer prices gradually dropped after these months. — VNS

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