CPI continues to dip in June

VGP – The consumer price index (CPI) in June increased just by 1.09% compared to 2.2% in May, reported the General Statistics Office (GSO).

June 24, 2011 3:21 PM GMT+7

CPI posts a second consecutive month decrease – Photo: VGP

This is the 2^nd consecutive month the CPI went down with the rate being the lowest in the first half of 2011.

Specifically, the prices of food and catering service rose by 1.79%, beverage and tobacco up by 0.76%, education up by 0.47%, equipment and household utensils up by 0.72%.

Meanwhile, post and telecommunication posted a price decrease of 0.01%.

Also in June, the gold price climbed up by 0.36% and the Greenback price fell by 0.78%.

The shrinkage of CPI is attributed to the drastic implementation of the Government’s Resolution 11, noted Deputy Minister of Planning and Investment Cao Viết Sinh.

This positive signal would help consolidate market confidence in the Government’s capacity to control inflation in the 2^nd half of the year, he added.

The Ministry of Finance forecasted that the prices of rice, food and vegetables would continue to go down in coming months thanks to abundant supply.

Inflation, however, is still a pressing issue as it went up by 13.29% against December of 2010 and close to the Government’s whole-year target of 15%.

By Hải Minh