December CPI forecasts at more than 1.5 percent
06/08/2010 - 26 Lượt xem
As forecast, CPI in December, 2007 is forecasted to rise 11 percent year on year bringing the CPI for the year as a whole to an 8.5 percent increase over last year.
According to the General Statistics Office, the CPI in November increased 1.23 percent over the previous month. Of this, the highest rise of 2.06 percent was recorded in foods and services and an increase of 1.78 percent was also posted in houses and building materials. November’s CPI increased 7.92 percent against that of the first eleven months of 2006.
The prices of many import materials are forecasted to be on the rise in December of 2007 and early 2008. The price of crude oil still remains over 900 USD per barrel, aluminum mill prices are around 600 USD per ton, and urea fertilizer fluctuates around 350 USD per ton.
The November CPI increase was mainly due to price hikes in commodities and oil prices on the world markets. Consecutive floods in central provinces and Central Highland and diseases in poultry have also contributed to the CPI increase. In particular, an increase in the minimum wage also affected the CPI.
The situation will require effective solutions to curb CPI in months near the Lunar New Year Festival. A stable CPI is to stabilize market prices and to supply enough goods to people for economic development.
Source: CPV
