Lower petrol prices reduce November CPI

The consumer price index (CPI) in November dropped by 0.27 percent compared to October due to the continuous decrease in petroleum prices.

Monday, November 24, 2014 15:44

The consumer price index (CPI) in November dropped by 0.27 percentcompared to October due to the continuous decrease in petroleum prices.

Lower petrol prices in the last two months accountfor 0.24 percent of the CPI decrease, Head of the Price StatisticsDepartment under the Ministry of Planning and Investment Nguyen DucThang explained.

According to the General StatisticsOffice (GSO), this is the second slump in CPI this year, after March. Aslight decrease was seen in foodstuff as a result of an abundant supplyand cheaper transport, whereas the consumer prices for garments,textiles, footwear and household equipment increased.

In November, the price of gold and the US dollar averaged around 3.5million VND per tael and 21,350 VND per USD, respectively.

According to the GSO, the CPI for the past 11 months increased by 4.3 percent compared to the same period last year.

Thang predicted the CPI for December will be same as for this month.-VNA

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