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CPI in February increases 1.96 percent
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.
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