Hanoi's July CPI rises with higher demand in hot weather

The consumer price index (CPI) of Hanoi increased by 0.18% compared to the previous month, mainly driven by higher demand for new clothes, footwear, household appliances, electricity and water due to rising temperatures in the summer, according to the Hanoi Statistics Office.

Higher demand for household appliances contributes to CPI rise in July
Higher demand for household appliances contributes to CPI rise in July

The CPI of Hanoi this month also went up by 0.98% over the same period last year and by 0.77% over December 2014.

The CPI advance in July was attributed to price increases in nine of the 11 main goods groups in the CPI basket, with the highest increase in the garments, hats and footwear group at 0.47%, and household appliances at 0.38% due to hot weather.

The prices of electricity, water, fuel and construction materials also rose by 0.32% against the previous month because of higher demand.

Restaurants and food services were revived again, up 0.13% over June, due to higher prices of pork, vegetables and fruits.

The slight reduction in petrol prices on July 4 could not compensate for the previous price hike, which led to an increase of 0.11% in transport costs in July.

In the meantime, telecommunications and education saw unchanged prices compared to the last month.

Not included in the goods basket for CPI calculation, the price of gold fell by a sharp 3.75%, while the price of the US dollar rose by 0.01% compared to the previous month.