Hanoi’s consumer price index (CPI) was estimated to have increased by 2.47% from August to September, setting a record high since May 2011.
The increase surprised many after the decreases in June and July and a slight increase of 0.57% in August, according to the Hanoi Department of Planning and Investment.
In the first nine months of this year, the city saw an average rise in the CPI of 9.24% compared to the same period of last year.
The soaring rate has attributed to the impacts of consecutive petroleum prices hikes in August and the power price increase in early July.
According to the department, in the third quarter of this year, Hanoi's GDP grew by 8.5%, compared to 7.3% in the first quarter and 7.9% in the second quarter. Between January and July, the average GDP growth for the city was 7.9%, with services sector posting the strongest growth, at 8.9%. Meanwhile, agro-forestry-fishery witnessed a decline of 0.6%.
The industrial production and construction sectors faced continued difficulties in the third quarter. Among 21 key industrial products, up to 15 saw the output decrease, including auto assembly, which fell 56.4%, electric engine production (down 45.6%) and machine-tools (down 45.8%).
The city’s exports also slowed in the third quarter. The export value was estimated to have increase by 0.4%, down from 13.7% in the second quarter. The total value of exports from the city in the first nine months of the year was around USD7.53 billion.
