HCM City’s January CPI edges up 0.44 percent

Ho Chi Minh City ’s consumer price index in January edged up only 0.44 percent against the previous month, a fairly low rate given that the Lunar New Year is drawing near.

Ho Chi Minh City ’s consumer price index (CPI) in January edged up only 0.44 percent against the previous month, a fairly low rate given that the Lunar New Year is drawing near.

Customers are buying goods at Co.op Mart in HCM City

According to the municipal Statistics Office, eight out of 10 commodity groups measured registered a hike in prices.

The highest price rise of 1.43 percent was recorded in food. Prices of foodstuffs and restaurant services went up 0.17 percent and 0.09 percent, respectively.

Meanwhile, prices of transport, post and telecommunications and other services dropped compared to last month.

In December, 2012, the city’s CPI leaped 0.17 percent month on month.

Seen as the country’s largest economic hub, HCM City is aiming for a yearly CPI increase lower than the country’s proposed 8 percent rate in 2013.

For the year, the city has set targets of a 9.5-10 percent GDP growth rate and a GDP per capita of 4,000 USD.