Illustrative image (Source: VNA) Hanoi (VNA) – The consumer price index (CPI) in February edged up 0.73percent monthly and 3.15 percent annually, largely driven by people’s highdemand for commodities and services to be used in the Lunar New Year (Tet)festival, the country’s largest holiday in a year, according to the GeneralStatistics Office (GSO).
TheCPI rose by 1.24 percent from December 2017, pushing the index up 2.9 percentin the first two months this year.
Among11 goods and services categories, nine saw price increases, including food andcatering services (1.53 percent); transportation (0.79 percent); beverages andcigarettes (0.75 percent); other goods and services (0.74 percent); culture,entertainment and tourism (0.72 percent).
Directorof the GSO’s Price Statistics Department Do Thi Ngoc attributed the hike to strongdemand for food, beverages, cigarettes and electricity use during the Tet andmassive rice purchase for exports to Indonesia and the Philippines.
Publictransportation costs also went up 3.34 percent due to surging travellingdemand.
Other factors reined in CPI growth such as falling gasand vegetable prices with respective decreases of 5.14 percent and 1.72percent.
The price of gold rose 1.83 percent month on months while the price of USDollar remained stable.
According to the GSO, core inflation in February (CPI exclusive of fresh food,energy and State-run health and education services) moved up 0.49 percent month-on-monthand 1.47 percent year-on-year. The index for the first two months this yearrose by 1.32 percent.-VNA
TheCPI rose by 1.24 percent from December 2017, pushing the index up 2.9 percentin the first two months this year.
Among11 goods and services categories, nine saw price increases, including food andcatering services (1.53 percent); transportation (0.79 percent); beverages andcigarettes (0.75 percent); other goods and services (0.74 percent); culture,entertainment and tourism (0.72 percent).
Directorof the GSO’s Price Statistics Department Do Thi Ngoc attributed the hike to strongdemand for food, beverages, cigarettes and electricity use during the Tet andmassive rice purchase for exports to Indonesia and the Philippines.
Publictransportation costs also went up 3.34 percent due to surging travellingdemand.
Other factors reined in CPI growth such as falling gasand vegetable prices with respective decreases of 5.14 percent and 1.72percent.
The price of gold rose 1.83 percent month on months while the price of USDollar remained stable.
According to the GSO, core inflation in February (CPI exclusive of fresh food,energy and State-run health and education services) moved up 0.49 percent month-on-monthand 1.47 percent year-on-year. The index for the first two months this yearrose by 1.32 percent.-VNA
VNA
