CPI increases show signs of slowing

CPI increases show signs of slowing

November's consumer price index (CPI) inched up 0.47 per cent from the previous month, much lower than 0.85 per cent in October and 2.2 per cent in September, according to the General Statistics Office.

CPI increased by 6.52 per cent compared with last December, the office reported.

Director of the office's Consumer Price Index Department Nguyen Duc Thang attributed the slowdown to the 0.08 per cent decrease of foodstuff and catering services, which accounted for 40 per cent of goods used to calculate the index.

The cost of eight out of 11 key commodities saw a slight surge ranging from 0.03 to 0.53 per cent, Thang said.

In November, medicine and healthcare services were the most heavily inflated, rising 5.16 per cent against the previous month in the wake of the Government's decision to allow the healthcare sector to raise hospital fees a few months ago. Rising for a fifth consecutive month, November's prices were 45.03 per cent higher than December last year.

Textile and garments also rose 0.83 per cent as the country entered the cold season, the office said.

With CPI slowing for the past two months, Thang forecast that the country would succeed in keeping the index in single digits this year, despite the fact the cost of goods often went up in the fourth quarter.

However, experts recommended that the Government and relevant ministries and agencies still needed to closely monitor market prices and balance supply and demand of essential goods and services to stabilise the market and control prices in the final months of the year.

vietnamnews