Vietnam's CPI Rises 6.78 per cent in Jan-August on Food Price Hike

2:16:38 PM | 8/27/2007

Vietnam’s consumer price index (CPI) is estimated to increase 0.55 per cent in August, lifting the inflation rate in the first eight months this year to 6.78 per cent, the government’s General Statistics Office (GSO) reported August 23.

The consumer price inflated 8.57 per cent against a year earlier, GSO said.

Foods and foodstuffs, which account for 42.8 per cent of the commodity basket to calculate CPI, saw the highest price hike in this month. It expanded 0.88 per cent from July, 9.46 per cent from the beginning of this year and 11.91 per cent from last August.

Beside food price, housing and construction material also saw sharp CPI rise of 9.2 per cent from the beginning of this year. It expanded 9.93 per cent from the same period last year.

The slowest rise was seen in price of education cost. It grow only 1.23 per cent in first eight months and 3.77 per cent from a year earlier.

In August alone, beverage and cigarette cost was up 0.5 per cent more from July, followed by other goods and services up 0.48 per cent.

Postal and telecom price fell 0.07 per cent on-month, making the transport and communication means group rise only 0.15 per cent in August, the slowest rise in the month.

The gold price is estimated to rise 1.49 per cent in August. It rose 5.94 per cent from last year’s end and 4.72 per cent one year ago.

The prices of US dollar rose 0.16 per cent against the Vietnamese dong from last month, 0.48 per cent from last December and 0.99 per cent from last August.

The CPI rate in August is smaller than that in July as Vietnam’s government has been taken drastic measures to curb price hike.

The following table is the breakdown of CPI:

	Index in August 2007 compared with ( per cent)
	Base year 2005	August 2006	Dec 2006	July 2007
Consumer price index	115.50	108.57	106.78	100.55
Food and foodstuff	119.92	111.91	109.46	100.88
Of which: -Food	123.76	115.68	107.05	100.86
-Foodstuff	118.42	110.96	110.79	100.92
Beverage and cigarette	112.76	105.90	104.47	100.50
Garment, footwear, hat	111.32	106.33	104.43	100.38
Housing and construction materials	118.50	109.93	109.20	100.15
Household appliances and goods	111.93	106.38	103.99	100.28
Medical products and health care	110.16	105.46	104.26	100.65
Means of transport and communication	111.81	103.01	103.58	100.15
Of which: Postal services and Telecommunication	94.20	95.87	98.40	99.93
Education	107.16	103.77	101.23	100.28
Culture, sport and entertainment	107.43	104.36	103.16	100.16
Other consumer goods and services	114.44	108.07	105.29	100.48

(GSO August 2007)

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