Hanoi June CPI Falls 0.17pct MoM: GSO

Hanoi consumer price index (CPI) was estimated to have fallen by 0.17 percent on-month in June 2012, dragged by decrease in prices of housing and construction materials, traffic and food and restaurant services, the municipal general Statistical Office said.

This is the first negative on-month CPI figure in multi months as business activities slowed down, high inventory and credit growth falls. According to HDHMoney’s statistic, this is the first CPI fall in June in 10 years.

Hanoi’s June CPI dragged the figure to +2.57 percent from December 2011 and +3.62 percent from June 2011.

Three out of the total 11 groups of goods comprising the index wSTC weigh accounted for 70 percent saw their prices fall in the month.

In the down side, prices of housing and construction materials ( including rent, electricity, water, water, fuel and construction materials) tumbled by 1.86 percent in the month due to slow down in the property market; prices of traffic fell 1.73 percent thanks to petrol price cut and prices of food and restaurant service fell 0.05 percent.

In the upside, prices of drinks, cegarrets, garment rose due to seasonal factors.

Not included in the CPI components, gold prices dropped by -2.69 percent on month in June while U.S dollar prices rose 0.25 percent

 

Category: Economy