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CPI tipped to rise next month
The consumer price index (CPI) is expected to surge about 2 per cent in February, according to the Pricing Management Department.
The cost of eating out, transportation, beverages, tobacco and entertainment will see the most dramatic rise, according to the department.
The department also predicted that demand for goods and services would rise by up to 20 per cent in comparison with the rest of the year.
However, the domestic rice price in the south is expected to decline due to stockpiling by exporters.
Meanwhile, the price of meat and seafood is expected to rise due to increasing demand over the holiday period and the cold spell in the north.
Fertiliser and steel prices are also expected to rise due to increasing domestic and international demand.
However, the department said price fluctuations had been minimised due to stockpiling by businesses.
To help businesses meet increased demand for essential commodities over the holiday period, 35 cities and provinces made interest-free loans available worth VND1.497 trillion (US$75 million).
The Ha Noi Department of Industry and Trade lent VND400 billion ($20 million) interest-free to 13 companies to purchase 13 essential commodities that included 6,400 tonnes of rice, 1,520 tonnes of meat, 560 tonnes of poultry, 12 million eggs, 1,280 tonnes of processed food, 240 tonnes of vegetable oil, 240 tonnes of sugar and 4,000 tonnes of fresh vegetables.
In addition, wholesalers, supermarkets and trade centres such as Metro, Big C and Intimex put aside commodities worth VND1.2 trillion ($60 million) to meet demand over Tet.
HCM City lent 14 enterprises VND380.6 billion ($19 million) at zero interest to help them meet additional demand up to the end of March.
Meanwhile, Da Nang City put VND3.8 billion ($190,000) towards its price stabilisation programme for Tet.
The Government has asked the coal, cement, paper, fertiliser, dairy and electricity sectors to keep prices stable over the holiday period.
It has also asked bus firms, rail companies and airlines not to hike prices over Tet.
According to the General Statistics Office, the CPI rose 1.74 per cent this month compared with December last year.
vietnamnews
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