The country’s Consumer Price Index (CPI) in July went up by only 0.06percent over the previous month, the lowest level for the seventh monthof a year since 2004 and the lowest rise so far this year.
Accordingto the General Statistics Office, with this slight fluctuation, theCPI for the past seven months rose 4.84 percent over December 2009 and8.67 percent against the same period in 2009.
For the first time, July’s CPI increased in only eight out of 11 groups of commodities .
The most significant increase was seen in drinks and tobacco,generating 0.41 percent, followed by household goods and appliances, up0.39 percent. Meanwhile textiles, garments and shoes posted an increaseof 0.35 percent.
The prices of educational products andservices rose by only 0.11 percent despite crowded college anduniversity entrance exams in July.
Catering and relatedservices saw a 0.21 percent increase, while, food dropped by 0.97percent, exerting a dramatic impact on the CPI’s decline.
Other sharp declines were found in transport, with 0.94 percent, housingand construction materials, down 0.47 percent, and post and telecoms,0.07 percent.
The low CPI in July is attributed to bumper ricecrops and the drops in the prices of rice, petrol and oil in localmarket.
Another factor is the slight fluctuation in the CPIin the two economic hubs, with HCM City down by 0.09 percent andHanoi up by 0.25 percent against June.
However, expertshave warned that the storm season is coming with many unforeseendifficulties ahead, so there may be an imbalance between demand andsupply, leading to a surge in prices.
Major cities,especially Hanoi and HCM City , are urged to continue theirefforts to stabilise the prices of eight essential goods, while thegovernment needs to proceed with flexible measures to manage themacro-economy, according to experts.
In July, gold prices onthe market went up by 2.15 percent from June, and by 35.86 percentagainst the same period in 2009.
Meanwhile, the US dollarprice rose 0.38 percent against June and 5.04 percent against the sameperiod last year after commercial banks raised their deposit interestrates and boosted the purchase of the currency./.
Accordingto the General Statistics Office, with this slight fluctuation, theCPI for the past seven months rose 4.84 percent over December 2009 and8.67 percent against the same period in 2009.
For the first time, July’s CPI increased in only eight out of 11 groups of commodities .
The most significant increase was seen in drinks and tobacco,generating 0.41 percent, followed by household goods and appliances, up0.39 percent. Meanwhile textiles, garments and shoes posted an increaseof 0.35 percent.
The prices of educational products andservices rose by only 0.11 percent despite crowded college anduniversity entrance exams in July.
Catering and relatedservices saw a 0.21 percent increase, while, food dropped by 0.97percent, exerting a dramatic impact on the CPI’s decline.
Other sharp declines were found in transport, with 0.94 percent, housingand construction materials, down 0.47 percent, and post and telecoms,0.07 percent.
The low CPI in July is attributed to bumper ricecrops and the drops in the prices of rice, petrol and oil in localmarket.
Another factor is the slight fluctuation in the CPIin the two economic hubs, with HCM City down by 0.09 percent andHanoi up by 0.25 percent against June.
However, expertshave warned that the storm season is coming with many unforeseendifficulties ahead, so there may be an imbalance between demand andsupply, leading to a surge in prices.
Major cities,especially Hanoi and HCM City , are urged to continue theirefforts to stabilise the prices of eight essential goods, while thegovernment needs to proceed with flexible measures to manage themacro-economy, according to experts.
In July, gold prices onthe market went up by 2.15 percent from June, and by 35.86 percentagainst the same period in 2009.
Meanwhile, the US dollarprice rose 0.38 percent against June and 5.04 percent against the sameperiod last year after commercial banks raised their deposit interestrates and boosted the purchase of the currency./.
