Inflation rate in Hanoi sees 0.12 percent rise hinh anh 1Fruits are sold at a supermarket (Photo: VNA)

Hanoi (VNA) - The consumer price index (CPI) in Hanoi in January is estimated to see a 0.12 percent rise against the previous month.

The Hanoi Statistics Office reported on January 22 that the city's CPI increased this month due to the high demand for the Tet festival in February.

The office said the CPI for the capital city this month rose by 0.12 percent against the previous month and 1.2 percent year-on-year even after twice having reduced petrol prices.

Cutting the fuel prices forced the transport group to reduce the prices of goods by 2.1 percent in January, the office said.

Meanwhile, the increase in CPI of Hanoi this month was due to higher prices from the remaining 11 goods items used to calculate the index.

The highest surge in price was from education at a rate at 3.74 percent because the municipal People's Committee increased the school fees.

The price of food surged 0.27 percent in comparison with the previous month as the local market registered a high demand for goods before the Tet holidays. In addition, restaurants saw an increase in the demand for food during weddings and meetings at the end of the lunar year. These included pork, chicken and seafood.

The prices for the group of housing, electricity, fuel and building material surged by 0.08 percent month-on-month as the demand for repairs to houses rose before the Tet festival, along with the use of electricity during the cool season.-VNA