August CPI projected at 0.25% in HCMC

Customers buy clothes at Ben Thanh Market in downtown HCMC - Photo: Minh Tam

HCMC – HCMC’s consumer price index (CPI) in August is forecast to continue dropping by 0.25% from the previous month, driven by lower costs of foods and telecom services, according to the city’s statistics office.

The city’s CPI in July fell 0.09% from a month earlier. The index, however, still represents a 4.52% rise compared to last December.

This month the food and foodstuff category have seen strong price decreases, especially pork prices that have been hurt by the blue-ear pig disease. Poultry egg and vegetable prices have also declined by 2.4% and 2.23% respectively while other foods such as seafood and poultry have grown, resulting in a slight decrease of 0.06% for this group of goods.

The post and telecom group, meanwhile, has fallen by 4.71% as telecom service providers have slashed mobile charges by 15% since early this month.

However, other categories have undergone price surges in August, including the equipment and home appliance category with 0.65% and housing, electricity, water and fuel supply with 0.42%. The transport sector has also risen by 0.38% as a result of gasoline price hikes on August 9.

Garment and footwear, medicines and healthcare, entertainment and travel products had also increased in prices by 0.12%, 0.11% and 0.26% respectively. Meanwhile, education has inched up a slight 0.02% thanks to the city’s price stabilization program.