February sees only marginal CPI growth

Vietnam’s consumer price index (CPI) in February rose 1.37 per cent from January, a 16.44 per cent increase year-on-year, according to the monthly report brought out by the General Statistics Office.

Compared to the month of February of previous years (excluding 2009), this month CPI marked the lowest rise in the last 10 years.

Among the 11 groups of goods and commodities used to calculate   the CPI, as usual the only group to see a decline of 0.16 per cent month on month was the post and telecom sector.

The housing and construction sector, including rentals, electricity, water, fuel and building materials, saw the highest price hike of 2.47 per cent, mostly due to the rise in electricity prices in December 2011, and domestic gas prices last month.

This was followed by the food, foodstuff and catering services sector, with a 2.11 per cent rise, due to Tet Lunar New Year holidays, during which catering services and foodstuffs rose the highest, with an increase of 2.82 per cent and 2.73 per cent respectively.

Gold price increased 3.27 per cent this month while the US dollar declined 0.41 per cent.

Among 10 provinces and cities, Gia Lai Province posted the highest CPI rise in February with 1.62 per cent, followed by Hanoi City with 1.45 per cent and Ho Chi Minh City the lowest with 1.32 per cent.

By A.Thu – Translated by T.Huong

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