CPI growth in January highest in seven years
CPI growth in January highest in seven years
Vietnam’s consumer price index (CPI) in January soars 1.23% against the previous month and 6.43% over January last year, the highest growth rate for January over the past seven years.
According to the General Statistics Office, the Lunar New Year holiday falls in January, so local consumers’ demand for shopping and traveling is high, news site Vietnamplus reported.
Up to 10 out of 11 groups in the basket of commodities used to calculate the CPI mark up in prices.
Specifically, food and catering services register the highest rise of 2.29%, followed by housing and building materials with a price increase of 1.47%, and other goods and services, 0.92%.
Only postal and telecom services report a price decline of 0.03%.
Do Thi Ngoc, head of the General Statistics Office’s Price Statistics Department, said local consumers’ demand for food and beverages for the Lunar New Year holiday is high, so the food and catering services register the highest price rise.
In January, the domestic gold price increases 4.37% month-on-month to VND43.2 million per tael. The exchange rate between the U.S dollar and Vietnam dong has been stable, hovering around VND23,222.
Core inflation, which excludes price changes of food, energy and goods managed by the Government, in January picks up 0.76% over the previous month and 3.25% year-on-year.
