Hanoi, HCMC See Cooling CPI in March

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By Vo Thi Bich Hong

Mar. 28 – In March 2012, the consumer price index (CPI) in Vietnam’s two largest cities, Hanoi and Ho Chi Minh, increased slightly over the previous month at rates of 0.19 percent and 0.12 percent, respectively.

Specifically, Hanoi’s CPI growth rate in March is relatively low compared to the 1.45 percent increase seen in February.

According to the Department of Statistics in Hanoi, prices for 10/11 item groups went up in March, in which the highest increases were seen in housing, electricity, water, fuel and construction materials which rose 2.84 percent. Next, the transport group increased 1.36 percent. Foods and food services decreased by a slight 0.8 percent.

However, in March 2012, items on the market (such as foodstuff) remain relatively stable and even decreased slightly in some cases – contributing to a “cooling” of the CPI this month.

In HCMC in March 2012, the CPI had a slight increase of 0.12 percent compared to February’s 1.32 percent increase.

According to the Department of Statistics in HCMC, the causes contributing to this month’s lower CPI include a drop in the prices for foods and foodstuff.

The increase in domestic fuel prices is the main reason leading the 2.51 percent CPI increase for the group of goods including electricity, water, and gas.

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