Vietnam's CPI Rise Lower in September

3:35:02 PM | 9/27/2007

Vietnam’s consumer price index (CPI) is estimated to rise 0.53 per cent in September, slightly lower than the rise of 0.55 per cent in August, after the Government has taken drastic measures to rein inflation rate, the General Statistics Office (GSO) reported.

The Finance Ministry’s Pricing Management Department said prices of commodities continued rising but at lower rate compared with last month. The CPI was expected to rise between 0.2 per cent and 0.3 per cent in September.

The CPI inflated 7.32 per cent from the beginning of this year and 8.8 per cent from a year ago.

In September, foods and medical products made great contribution to CPI hike.

Food and foodstuff prices, which form 42.8 per cent of the commodity basket to calculate CPI, rose 1.02 per cent on month. It soared 10.57 per cent from last December and 13.32 per cent from last August.

Medical products and health care was the runner-up with the rise of 0.91 per cent on month.

Two groups of commodity saw the CPI fall in September, of which prices of transport and communication means was down 0.84 per cent on month, and costs of culture, sport and entertainment down 0.89 per cent.

The following table is the breakdown of CPI:

	Index in Sept 2007 compared with ( per cent)
	Base year 2005	Sept 2006	Dec 2006	Aug 2007
Consumer price index	116.09	108.80	107.32	100.51
Food and foodstuff	121.14	113.32	110.57	101.02
Of which: -Food	124.81	116.21	107.96	100.85
-Foodstuff	119.91	113.12	112.18	101.26
Beverage and cigarette	112.83	105.65	104.53	100.06
Garment, footwear, hat	111.66	105.94	104.75	100.31
Housing and construction materials	119.01	109.47	109.66	100.43
Household appliances and goods	112.21	106.17	104.25	100.25
Medical products and health care	111.16	106.20	105.20	100.91
Means of transport and communication	110.87	100.49	102.71	99.16
Of which: Postal services and Telecommunication	93.79	97.72	97.97	99.57
Education	107.57	103.43	101.62	100.39
Culture, sport and entertainment	106.47	103.03	102.24	99.11
Other consumer goods and services	114.92	108.55	105.73	100.42

The CPI went up 0.53 per cent in urban areas and 0.5 per cent in rural areas in the month. It advanced the most in the northwestern region at 0.78 per cent.

Among localities, Phu Tho saw the highest CPI rise at 0.92 per cent.

In September, the gold price was estimated to increase 1.93 per cent on month, 7.99 per cent from last year’s end and 9.88 per cent from one year ago.

The prices of U.S. dollar inched up 0.57 per cent against the Vietnamese dong from last month, 1.05 per cent from last December and 1.47 per cent from last September.

The Pricing Management Department forecast the CPI may rise 0.4 per cent in October.

Vietnam targets to curb the CPI hike at 8 per cent or 8.2 per cent this year, below the GDP growth expected at 8.5 per cent. (GSO Sep 2007, Local sources)

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