HCM City’s CPI up 1.51 percent in Q1

HCM City’s CPI increases 1.51 percent in Q1. (Photo: VNA)

HCM City (VNA) – Ho Chi Minh City’s consumer price index (CPI) in March increased 0.6 percent month-on-month and 2.03 percent year-on-year, pushing up the index in the first quarter of this year by 1.51 percent.

According to the municipal Statistics Office, last month, five out of 11 groups of commodities and services saw price decreases, namely restaurant and catering services; garment-textile, headwear and footwear; household utensils, medicine and health services; and telecommunications.

Meanwhile, prices of the remaining six groups rose from the previous month, with the highest jump recorded in transport services, at 4.94 percent.

The office explained that the price hike in restaurant and catering services was due to price adjustments by suppliers because of surging oil and gas prices.

It also noted that the COVID-19 pandemic has affected the export of agricultural products to China, leading to the abundant supply at home and the price drop of vegetables and fruits.

The prices of gas and other fuels jumped 10.01 percent, and kerosene, up 18.31 percent in the month.

Local gold prices also soared 8.48 percent in March and 13.64 percent in the first quarter. The rate of US dollar increased 0.25 percent this month, but dropped 0.11 percent in the three-month period.

The office said trade activities in HCM City are recovering quickly and local residents have returned to their normal life after the pandemic was brought under control.

The total retail sales of consumer goods and services in March reached some 92.69 trillion VND (4.05 billion USD), increases of 8.4 percent month-on-month and 3 percent year-on-year.

The city’s tourism revenue also expanded 3.1 percent from the previous month and 1.4 percent as compared with the corresponding time last year thanks to the country’s full tourism reopening from March 15.

The total retail sales of goods and services over the past three months stood at about 266.9 trillion VND, down 4.8 percent year-on-year, partially due to changes in consumption habits due to the pandemic.

However, the office forecast that the revenue from trade and services will grow in the next quarters as business activities and purchasing power are bouncing back./.

VNA