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December CPI at 0.21%

Released at: 11:04, 28/12/2017

December CPI at 0.21%

Photo: Duc Thanh

Eight goods in CPI basket rose in December against November.

by Huyen Thanh

The CPI increased 0.21 per cent in December compared to November and 2.6 per cent year-on-year, according to the General Statistics Office (GSO).

Eight of the eleven goods in the CPI basket increased during the month. Medicine and healthcare services saw the highest increase, of 2.55 per cent, as 15 cities and provinces raised their prices.

Some goods in the basket saw slender growth, such as transport, up 0.84 per cent, garments, hats and footwear 0.43 per cent, due to increasing demand as winter approaches, tobacco and beverages 0.17 per cent, housing and building materials 0.22 per cent, due to gas and electricity prices being adjusted and increasing demand for house repairs, household appliances and equipment 0.12 per cent, and culture, entertainment and tourism 0.03 per cent.

Most remaining goods and services saw falls, such as restaurants and catering services, by 0.23 per cent, in which cereals increased 0.56 per cent but meat fell 0.5 per cent, and posts and telecommunications, which were down 0.03 per cent. Education was unchanged.

The GSO said that core inflation (CPI excluding cereals, meat, energy and State-managed goods such as education and healthcare services) increased 0.11 per cent in December compared to November and 1.29 per cent year-on-year. Core inflation for 2017 was 1.41 per cent.

Many localities adjusted prices for medical services and medical examination and treatment under Joint Circular No. 37/2015/TTLT-BYT-BTC and Circular No. 02/2017/TT-BYT. As at December 20, 45 cities and provinces had adjusted such prices for people without health insurance cards.

The implementation of a roadmap for increasing tuition fees, under the Decree No. 86/2015/ND-CP, pushed up education in December by 7.29 per cent compared to December 2016, contributing to December’s CPI being 0.41 per cent higher than at the end of last year. Average monthly CPI was some 0.5 per cent.

The increase in regional minimum wages from January 1, 2017 and the base salary of officials, civil servants and armed forces personnel from July 1, 2017 pushed up the average price of services such as household appliance repairs, house maintenance, and electricity and water supply in 2017 by 3-8 per cent compared to 2016.

Other factors included rising tourism demand and a greater impact from natural disasters than in 2016.

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