Hanoi's consumer price index (CPI) is estimated to have fallen by 0.29% on-month in July 2012, a second straight month on decline, dragged by decrease in prices of three groups accounting for 70% weigh, the municipal General Statistics Office said.

This is the second negative on-month CPI figure as business activities slowed down, high inventory and businesses still find it hard to access bank’ loans.

Hanoi’s July CPI dragged the figure to +4.64% from July 2011.

 

Three out of the total 11 groups of goods comprising the index whose weigh accounted for 70% saw their prices fall in the month.

 

In the down side, prices of traffic fell the most by 2.9% thanks to two petrol price cuts; prices of housing and construction materials( including rent, electricity, water, water, fuel and construction materials) tumbled by 1.2% in the month due to slow down in the property market; and prices of food and restaurant service fell 0.21% of which prices of food fell 1.5%.

 

In the upside, prices of garment, hat and foot wears rose 1.09% due to seasonal factors while prices of furniture rose 0.81%.

 

Prices of six other groups: drinks and cegarrets; recreational and tourism; postal services and telecommunication; medicines and healthcare; education; and others rose slightly.

 

 

Source StoxPlus