Vietnam’s consumer price index in February rises 1.96 percent

Hanoi (VNA) – The nation’s consumer price index (CPI) in February rose 1.96
percent over the previous month and 8.46 percent over the same period last year.


The General Statistics Office (GSO) reported that 10 out of 11 commodity groups
recorded increases of between 0.12 percent and 3.09 percent, but post and
telecommunication services dropped by 1.23 percent as a result of promotion and
discount programmes.

Food and restaurant services increased the sharpest during the month with 3.09
percent, followed by beverages and tobacco with a 2.27 percent increase, housing
and construction materials up 1.75 percent, transportation services rose 1.45
percent, garments and footwear also up 1.39 percent and entertainment, tourist and
cultural services with a 1.22 percent rise. Education services placed last on the
list with an increase of only 0.12 percent.

The increase in February’s CPI was attributed to the rise in prices of goods and
services in preparation for the traditional Lunar New Year (Tet) festival,
explained Nguyen Duc Thang, Deputy Director of the GSO’s Trade and Pricing
Department.

According to the official, the CPI in March will continue rising, expecting to
plateau at 0.7-0.8 percent as a result of the rise in petrol and electricity
prices. In addition, the strong procurement of rice for export will also push up
the CPI in the month.

In February, the price of gold in the country lost momentum, dropping by 2.03
percent from January while the US dollar price climbed 0.33 percent over the
previous month.-Enditem