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Hanoi CPI to rise 1.3%-1.5% in Jan 2011

Hanoi consumer price index (CPI) is forecast to increase by between 1.3%-1.5% in the first month of 2011 due to higher demand during the traditional New Year festival, the online newspaper VnExpress reported on December 27, citing the Hanoi Department of Industry and Trade.

The department predicted that the prices of essential goods will slightly increase until Tet holiday, the country’s tradition New Year festival.

The price of meat is forecast to rise by between 5%-7%. Others including seafood and processed food will increase, the department said.

The domestic demand tends to sharply increase in the end of the year which pushing the price level higher.

However, the goods supply has ensured as the city has stored enough goods for this holiday, the department affirmed.

From VietNamBusiness

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