3:06:48 PM | 25/11/2009
Inflation of Hanoi and Ho Chi Minh City, two biggest cities in Vietnam, in November is estimated to have risen by 0.52% and 0.55%, respectively from the previous month.
According to the Hanoi Statistics Office, the consumer price index was up 3.9% compared to the same period last year.
Hanoi’s CPI hike is driven by foodstuffs and services, beverages and tobacco, garment and footwear, housing, electricity, water, fuel, building materials, transport and post and telecommunication with growth of between 0.18% and 1.06%.
In HCM City, the municipal Statistics Office estimated that the city’s CPI in November increased by 6% from a year earlier.
Prices of food and foodstuff rose 1.02% from a month earlier, of which vegetables and sugar topped the list with surges of 6.24% and 4.12%, respectively, the office said.
Housing, construction materials, water and electricity, and fuel in November also were 0.88% up from last month. Meanwhile, prices of drinks and cigarettes, and post and telecommunication fell 0.05-0.07%.
This month witnessed a noisy gold market with prices rocketing 9.34% from October to hit an all-time high of VND29 million per tael, or US$1,280 per oz, while the U.S. dollar was up 2% in Vietnam.
Analysts forecasts that food prices will continue to go up from now until the Lunar New Year Festival due to the impact of floods, diseases and a shortfall in food supplies. (Vietnam Economic Times, VNS)
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