Vietnam Time

2/26/2016 3:40:34 PM

CPI rise recovers in Tet month

After remaining stable in the first month of 2016, Consumer Price Index (CPI) increased 0.42% in February, the month to celebrate the Lunar New Year (Tet) holiday, reported the General Statistics Office (GSO).

Among 11 commodity groups with CPI calculation, eight saw price rises. Specifically, the sharpest price rises belonged to the groups of restaurant, food services and beverage, and cigarette at 1.98% and 1.15%, respectively.

CPI soars 0.42% in Tet month. (Photo: MV)

They were followed by culture, entertainment and tourism (0.71%), garment, hat and footwear (0.45%), education (0.26%), equipment and household devices (0.19%), medicine and health services (0.06%), and other goods and services (0.8%).

According to GSO, the sharp rises in prices of these goods and services in February were due to high consumer demand during the Tet holiday for items such as pork, beef, domestic fowls and seafood. Meanwhile, vegetable prices soared suddenly because of the damaging cold spell in January.

In addition, amusement and entertainment demand rising during the holiday pushed prices of restaurant, food services and beverage up.

However, the oil and petrol price adjustments before and after Tet positively impacted some commodities groups. Particularly, three groups witnessing CPI reductions were housing and building material (0.41%), transport (3.96%) and post and telecom (0.16%)./.

  ( Hoang Vy )
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