The consumer price index (CPI) in the past 11 months of 2016 posted a year-on-year increase of 2.47 percent, the General Statistics Office (GSO) announced on November 28.
Hanoi (VNA) – The consumer price index (CPI) in the past 11 months of2016 posted a year-on-year increase of 2.47 percent, the General StatisticsOffice (GSO) announced on November 28.
In November alone, the CPI rose 0.48percent from the previous month, 4.52 percent against the same period lastyear, and 4.5 percent from last December.
The situation was mainly driven by the strong surge of prices in food due tothe increasing demand in the wedding season, said Director of the GSO’s PriceStatistics Department Do Thi Ngoc.
An upturn was seen in nine out of the11 major goods and service groups, with the biggest increase reported intransport services at 1.63 percent. It was followed by medicine and health careservices (0.9 percent), food and catering services (0.49 percent), housing andconstruction materials (0.49 percent), textiles, headwear and footwear (0.24percent).
The group experiencing a pricedecline was telecommunication (0.02 percent), while the education group’s pricewas uncharged.
The GSO said many other factors could cause pressure on the CPI in November,including prices of electricity for daily activities, tourism services, andgold.
The November basic inflation (excluding food and fresh foodstuff, energy andState-controlled commodities such as healthcare and education services) climbed0.1 percent from the previous month and 1.87 percent year-on-year. Basicinflation of the past 11 months of 2016 rose 1.82 percent against the sameperiod last year.
The basic inflation from January to November fluctuated within a narrowamplitude from 1.64 percent to 1.88 percent, reflecting a healthy monetarypolicy that helps to stabilize the macro-economy.
December’s CPI is forecast to be higher than that of November due to the risingdemand in food, beverage, cigarettes, and textiles serving upcoming festivalsin the end of the year.-VNA
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Illustrative image (Source: VNA) 
