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Vietnam's CPI to rise 0.23 pct in December: statistics office

Xinhua, December 28, 2016 Adjust font size:

Vietnam's consumer price index (CPI) is expected to rise 0.23 percent in December compared to the previous month, said the General Statistics Office (GSO) on Wednesday.

The December CPI hike is attributed to the rise in price of medicine-medical services (up 5.3 percent compared to November), garment, hats and footwear (0.25 percent), beverage and tobacco (0.21 percent), housing and construction material (0.19 percent) as the New Year holiday is getting near, said GSO in its yearly socio-economic statistics report.

Meanwhile, other groups in the CPI calculation basket have their prices fall in December against November including transportation (down 0.89 percent), restaurant and catering services (0.03 percent), post and telecommunication (0.03 percent), culture, recreation and entertainment (0.02 percent). At the same time, education is the only group whose price remains unchanged during the month.

Speaking at a press conference held in Hanoi on Wednesday to launch the report, GSO head Nguyen Bich Lam said in 2016, Vietnam has succeeded in controlling its inflation rate amid the rebounding prices of some essential commodities.

This year, Vietnam's average monthly CPI is forecast to rise 0.4 percent while the yearly average CPI is to hike 2.66 percent compared to the average inflation of last year.

The December CPI has risen 4.74 percent compared to the same period of 2015, lower than the target of 5 percent set by the National Assembly, assessed Lam.

Though not included in the CPI calculation basket, in December, the price of gold is expected to go down 2.52 percent against the previous month while that of U.S. dollars goes up 1.52 percent.

In 2016, the price of gold in Vietnam has posted an average rise of 10.98 percent while the U.S. dollar's average price has climbed 2.23 percent over 2015. Endit