Consumer price index in February inches up 3.98%

The consumer price index (CPI) in February rose 1.04% against January and 3.98% year-on-year, fueled by high consumer demand for Lunar New Year holiday and a surge in rice prices, the General Statistics Office said on February 29.

In the first two months, the CPI rose 3.67% from the same time last year, while core inflation edged up 2.84%.

In the basket of goods and services that make up the CPI, prices rose in electricity (9.44%), education (8.47%), medicine and medical services (6.52%), housing and building materials (5.66%), and culture, entertainment and tourism (1.3%).

Meanwhile, the post and telecommunications saw its prices dropping 1.45% year-on-year, as enterprises run promotional programs for old-generation phones.

In February, gold prices expanded 2% from the previous month and 16.6% year-on-year. During January – February, the prices went up over 16%.

The USD rose against the VND by 0.4% month-on-month, to hover around 25,100 VND./. 

VNA