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Vietnam’s August CPI sees a decline comparing to July
Image by Vietnam News Agency
August’s CPI see a decline of 0,07% compared to the last month. However, it is still 0,61% ahead the same period last year and 0,61% slight increase compared to 12/2014. Overall the average CPI for the first 8 months of 2015 just slightly increases 0,83% compared to the same period last year.
According to Do Thi Ngoc, Deputy Director of Price Department - General Statistics Office of Vietnam, it is the first time August’ CPI decreases compared to the previous month. August’s CPI’s increase is also at the lowest level compared to 12/2014 and is below 1%. Oil price’s decline help transportation basket 2,12% “cheaper”, contributing 0,19% to the overall CPI decrease.
This is the 3
month in a row gas price decrease 2,5% compared to the previous month. The weather’s heat is less sultry in some locals, which decreases household power’s consumption compared to the previous month, leading to the decline of 0,32% of electricity basket.
It is worth noting that there are 4 baskets this month seeing its price’s decline: transportation with the highest decrease of 2,12%, household and construction materials with the decrease of 0,45%, post and telecommunication with the decrease of 0,02% and product and other services with the decrease of 0,02%. August’s CPI report issued by Ministry of Planning and Investment on 24/7 shows that out of the main 11 baskets of products and services, there are only 7 increases : education with the highest increase of 0,87% and medicine and healthcare services with the lowest increase of 0,03%.
The market in August sees the fluctuation of USD/VND exchange rate affected by Yuan’s devaluation. Domestic gold’s price still relies on fluctuation of international one’s.
Reports also says that, basic inflation (CPI after excluding fresh agriculture-foods; energy and state-managed products such as: healthcare and education services) in August still increases 0,1% compared to July’s and 1,98% higher than the same period last year.