November CPI decreases by 0.29% on falling petrol prices

ABONDO - Falling prices of petrol and pork contributed to the drop in Vietnam's consumer price index (CPI) in November, which decreased by 0.29% compared to the previous month.

 

Illustration image. Photo: THAI THIEN.

According to Director of the Price Statistics Department, Do Thi Ngoc, the price declines of petrol and food played a key role in this month's CPI drop.

The domestic prices of oil and petrol went down on November 6 and 21, resulting in a total decrease of 4.1% over the prices in October, contributing to a decline in the CPI by 0.17%.

 

In addition, the prices of pork fell by 1.3% over the previous month due to the abundant supply of pork.

The prices of fresh vegetables also decreased by 0.68% over October, due to the favourable climate and the supply of various types of vegetables during the month.

 

Northern provinces saw falling demand for electricity in November as the weather is turning cold, causing electricity prices to drop by 0.64%.

 

According to the General Statistics Office (GSO), November CPI increased by 3.46% compared to the same period last year and 3.24% compared to December of 2017.

 

In this month, seven out of 11 groups of goods and services posted price increases including apparels,

hats and footwear (up 0.26%); household appliances and equipment (up 0.08%); beverages and cigarettes (up 0.07%); education (up 0.05%); entertainment and tourism (up 0.05%); medicines and health services (up 0.01%); and other goods and services (up 0.15%).November CPI decreases by 0.29% on falling petrol prices