CPI plunges sharply in November

Illustration photo

Average CPI growth rate in the first 11 months picked up 3.59% against the same period last year. 

Hence, after nine years, CPI in November experienced the sharpest decline of 0.29%, followed by a rate of 0.27% recorded in 2014. 

Seven out of 11 groups of main goods and services saw price increases including garments, textiles, headwear , and footwear (up 0.26%); goods and services (0.15%); household utensils and equipment (up 0.08%); beverage and tobacco (up 0.07%); culture, entertainment, and tourism (up 0.05%); education (0.05%); medicines and health services (up 0.01%). 

Four groups experienced lower costs including transport (down 1.81%); housing and building materials (down 0.64%); restaurants and food services (down 0.14%); post and telecom services (down 0.06%). 

The GSO attributed the decreased CPI hike to lower petrol prices and stable pork supply. 

On the other hand, higher food prices (up 0.27%), bigger demands for building materials and clothes due to colder weather at the year end were blamed for CPI increase./.

By Khanh Phuong