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November’s CPI falls 0.29 percent due to cheaper petrol

The Consumer Prices Index (CPI) in November dropped 0.29 percent from October, driven by cheaper petrol prices, the General Statistics Office (GSO) reported on November 29.
November’s CPI falls 0.29 percent due to cheaper petrol ảnh 1November’s CPI falls 0.29 percent due to cheaper petrol (Photo: VNA)

Hanoi (VNA) – The Consumer Prices Index (CPI) in November dropped0.29 percent from October, driven by cheaper petrol prices, the GeneralStatistics Office (GSO) reported on November 29.

This month’s CPI rose 3.46 percent year-on-year and 3.24 percent from lastDecember. The eleven-month figure picked up 3.59 percent from the same timelast year.

Seven of the 11 groups of main commodities and services witnessed price increase,namely garment, headwear and footwear (0.26 percent); other goods and services(0.15 percent); home appliances (0.08 percent); beverage and tobacco (0.07percent); culture, entertainment and tourism (0.05 percent); education (0.05percent); medicine and medical services (0.01 percent).

In stark contrast, transport, housing and building materials, restaurant andcatering services, and postal and telecommunications service experienceddecreases of 1.81 percent, 0.64 percent, 0.14 percent, and 0.06 percent,respectively, in their prices.

According to GSO’s Pricing Department Director Do Thi Ngoc, the main downwardeffect in the month came from fuel prices.

As of November 23, global Brent fell average 17 percent while RON 92 inSingapore slid 20.02 percent from October. Therefore, domestic petrol priceswere adjusted two times, on November 6 and 21, dipping 4.1 percent from Octoberand making the CPI fall 0.17 percent.

Also, Ngoc said that the declining CPI was stoked up by reduction in pork andvegetable prices.

The GSO said that gold prices in Novemberfluctuated in line with the global gold market, increasing 0.49 percent withone ounce traded at more than 1,200 USD. Domestic gold was sold at around 36.5million VND per SJC tael, up 0.98 percent from October.

Thanks to effective management of the State Bank of Vietnam (SBV), the VND/USDexchange rate was stable in the month, with one USD exchanged for 23,371 VND.

Core inflation, which is the CPI excluding grain food, fresh foodstuff, energyand the State-managed goods of health care and educational services, inNovember rose 0.11 percent from October, and 1.72 percent year on year. DuringJanuary-November, core inflation went up 1.46 percent from the same time lastyear.-VNA
VNA
#Consumer Prices Index (CPI) in November #dropped 0.29 percent #cheaper petrol prices #General Statistics Office (GSO) #main commodities and services #housing and building materials #Vietnam News Agency #Vietnamplus
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