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November CPI up 0.96% as pork prices soars due to African swine fever
  • | dtinews.vn | November 30, 2019 08:00 AM
 >>  Higher pork prices push related food costs up
Vietnam’s consumer price index (CPI) in November posted its highest monthly rise, at 0.96 per cent due to soaring pork prices following the African swine fever which pushed up prices of related foods.

Illustrative photo by Vietnam Daily

According to a report released Friday from the General Statistics Office, CPI in November posted a month-on-month rise of 0.96 per cent, which is 3.52 per cent higher than that of the same period last year and the highest increase of November CPI over the past nine years.

However, the average CPI in eleven months only increased by 2.57 per cent on year, the lowest in the past three years, the report said.

Among the 11 groups of goods and services used to calculate inflation, food and eatery services saw the biggest rise at 2.74 per cent against the previous month, followed by beverages and tobacco at 0.20 per cent, and other goods and services at 0.16 per cent.

Meanwhile, transports costs fell 0.73 per cent due to fuel price cuts, and telecommunication costs also dropped by a slight 0.09 per cent in November.

According to the Ho Chi Minh City Statistics Office, the city posted a month-on-month CPI rise of 0.52 percent in November.

The office said the city’s CPI grew 3.8 percent in the January-November period compared to the same period last year.

Food and catering services also saw record on-month price hike at 1.31 per cent.

The sharp rise in pork prices has recently driven up the costs of related food in restaurants and markets in the city.

The municipal authorities are working with local businesses to ensure supply of essential goods, including pork, under the city’s market stabilisation programme for the Tet (Lunar New Year) holiday.

According to the Ministry of Agriculture and Rural Development, the country would face the pork shortage of around 200,000 tonnes in live weight in the fourth quarter of this year. The figure would be around 90,000 tonnes during Lunar New Year which falls on January 20.

The Ministry of Industry and Trade and the Ministry of Agriculture and Rural Development have been instructed to jointly propose to import pork.

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