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Rising incomes, fuel prices drive inflation   2012-05-23 - VNS

The increase in basic salary and petrol price were key factors in the rising CPI this month in Ha Noi and HCM City, statistics showed.

Ha Noi's CPI this month rose 0.16 per cent over the previous month and had a year-on-year increase of 2.75 per cent, the Ha Noi Statistics Office said.

HCM City's CPI increased 0.06 per cent against the previous month and had a year-on-year increase of 7.2 per cent, HCM City Statistics Office said.

The offices said the CPI was pushed up by the rise in petrol and oil prices in April though the prices dropped slightly on May 9.

The increase in petrol and oil prices made prices of group including transport, postal and telecom services lift by 1.32 per cent in Ha Noi and 1.22 per cent in HCM City.

The basic salary jumped 22 per cent since May 1, therefore prices of the group of goods and other services in Ha Noi rose 2.75 per cent, the highest rate among 11 main groups of goods and services, while the prices of goods and other services in HCM City surged 1.72 per cent.

Ha Noi had also shown an increase of 0.06-1.32 per cent in prices for the groups of beverage, tobacco, garment, footwear, housing appliances, medicine, health care services, cultural, entertainment and tourism services and education services.

High demand on services was during the long holidays for Liberation Day on April 30 and the International Labour Day on May 1.

Prices for the group of catering services and the group of electricity, tap water, fuel and building materials saw a decline of 0.24 per cent and 1.03 per cent, respectively.

The price of gold in Ha Noi dropped 1.24 per cent while cost of the US dollar was unchanged in May.

In HCM City, prices for the group of electricity, tap water and fuel fell 1.64 per cent in May while the price of the group of beverages and tobacco dropped 0.06 per cent.

Other groups saw increases of 0.18 per cent for the group of cultural, entertainment and tourism services, 0.3 per cent for the group of garment, footwear and hats, 0.16 per cent for housing appliances and 0.1 per cent for catering services.

The price of gold in HCM City fell 3.17 per cent against last month but the price of the US dollar surged 0.13 per cent compared with the previous month.

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