>> Vietnam determined to keep inflation below 7%
>> Hanoi\'s CPI continues to hike in January as Tet approaches
It’s estimated by the General Statistics Office that the consumer price index (CPI) will have risen by 1.74% by the end of January, against the month before.
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| CPI have continued rising |
The index will also have risen by 12.17% from last year at the same time, the office added.
Out of 11 sectors of goods and services, 10 have seen price hikes this month, excluding post and telecom services, which have dropped by 0.06% during the month, and 5.86% during the year.
Education prices have gone up as well, by 2.89% after several cities and provinces increased tuition fees at primary, secondary and high schools. This is the highest one-month rise on record.
The prices of food and dining werent’t not far behind, with an increase 2.47% compared to the month before.
In January, prices of drinks and cigarettes; clothing; grew 1.67 % and 1.81 %, respectively, compared to December 2010.
Gold fell by 0.05% for the month. However it was still up 33.87% for the year. The U.S. dollar exchange rate followed this same trend with a one month decline of 0.32%, yet was still up by 9.45% for the year.
Earlier, Hanoi announced that January CPI increased by 1.68% against December 2010. In Ho Chi Minh City there was a slightly smaller increase of 1.01%.
The country targets to keep inflation below the 7% set by the National Assembly this year, however, this will be a challenge for Vietnam.
