Consumer price index to increase in November

Consumer price index to increase in November

Viet Nam's consumer price index (CPI) in November 2014 is expected to rise over that of previous months because of an increase in demand for goods.

According to the Ministry of Industry and Trade's Domestic Market Department, the demand for products such as fertilizers and construction materials, as well as garments, textiles and shoes, will increased in year-end months because of seasonal factors.

But department officials gave assurances that prices would remain stable because of sufficient supply.

Figures from the General Statistics Office revealed that the CPI last month increased by 0.11 per cent over that of September. The price of school commodities and services reported the highest increase, at 1.31 per cent, in the wake of the Government decision to increase school fees in several cities and provinces.

The prices of pharmaceutical and health care services increased by 0.53 per cent because of the increase in service fees of some localities.

The prices for housing, construction materials and transport, which form part of the 11-commodity basket used to calculate the CPI, decreased after petrol prices were cut three times since late September. Other products in the basket increased slightly by 0.01 to 0.22 per cent.

The CPI in the first 10 months of the year increased by only 2.36 per cent compared with the entire 2013, representing the lowest level of CPI increase in the past decade. 

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