CPI in June lowest over nine months

CPI in June lowest over nine months 28/06/2011 10:02:00 510

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The consumer price index (CPI) in June soared 1.09% against last month, causing a year-on-year increase in the six-month CPI to 16.03%, according to the General Statistics Office (GSO).


Of the 11 consumption categories, only post and telecom services continued to fall, by 0.01%, while other categories increased by between 0.25-1.79%.


The highest growth in the month was seen in food and restaurant services with 1.79%; followed by cultural products, recreation and tourism, 0.77%; beverages and tobacco, 0.76%; and equipment and home appliances, 0.72%. Education and transport increased by only 0.47% and 0.39%, respectively.


The GSO said CPI in June 2011 was the lowest over the past nine months but still higher compared with June from 1995 to now, except for June 2008 with 2.1%.


According to the latest forecast from the World Bank, Vietnam’s yearly inflation will reach its peak at the end of the second quarter and will decrease to 15% at the end of the year, depending on the implementation of the Government’s Resolution 11 on stabilising the macro-economy and curbing inflation.


Many economic experts and businesses expressed concern over prices during the remaining half of the year, due to high interest rates and electricity prices, as well as unpredictable petrol prices.


In June, the gold price on the black market increased by 0.36% month-on-month but rose 5.18% over December, 2010 while the US dollar dropped by 0.78% month-on-month but increased by only 0.24% over December last year.