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Vietnam’s CPI edges up in February

The Saigon Times

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HCMC – Vietnam’s consumer price index (CPI) in February rose by 0.45% month-on-month and 4.31% year-on-year, according to data released by the General Statistics Office today, February 28.

The rise was attributed to higher local prices of fuels due to soaring global ones and increased renting costs after the Lunar New Year holiday, the local media reported.

The index in urban areas picked up 0.47% month-on-month, while CPI in rural areas went up 0.42%.

Five of the 11 main groups of goods and services in the basket of items used to calculate the CPI reported a month-on-month price rise.

The transport group recorded the highest increase at 2.11% as the prices of gasoline and oil products surged by 5.66% following fuel price adjustments on February 13 and 21.

Besides, the prices of public transport services went up 2.58% month-on-month, with the passenger train service price soaring by 32.92% month-on-month.

In February, the prices of housing and construction materials went up 1.81% month-on-month, due mostly to the rise in rent, and cooking gas, electricity and housing maintenance material prices.

Household equipment and appliances edged up 0.09%, while medicine and healthcare services saw a mild rise of 0.02%.

The group of other goods and services saw an increase of 0.12% due to an increase in the prices of jewelry, handbags, wallets and gold.

The six groups registering a fall comprised education services, food and catering services, beverages and tobacco, post and telecommunications, apparel and entertainment and tourism services.

Core inflation in February inched up 0.25% month-on-month and 4.96% year-on-year.

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