CPI down 0.05% in Tet month

Minh Tam

Consumers buy farm products at a supermarket in HCMC. According to GSO, prices of foods, foodstuffs and dining out services in February have been up 0.75%, 0.19% and 0.13% respectively - PHOTO: THANH HOA

Statistics from the General Statistics Office (GSO) indicated that of the 11 groups of items in the basket of commodities used to calculate the CPI, the transport group has encountered the sharpest price decline of 4.41% against last month since retail fuel prices were slashed by VND1,460-1,900 (6.8-8.8 U.S. cents) per liter on January 21.

The fuel price cuts were factored into CPI calculation this month, according to GSO. Prices of the two other groups of housing, building materials and gas, and post and telecom have edged down 0.41% and 0.02% respectively.

The eight remaining groups have posted price increases in the Tet month. The most-weighted group, catering services, has picked up 0.53% against the previous month while prices of foods, foodstuffs and dining-out services have risen by 0.75%, 0.19% and 0.13% respectively.

Key products for Tet such as beverages, cigarettes, apparel, footwear, home appliances and other goods and services have also been up by 0,56%, 0,45%, 0,31% and 0,74% respectively. However, these increases are lower than in the same period of last Tet owing to ample supplies.

Prices of pharmaceuticals and healthcare services, education, and culture and entertainment have increased less than 0.05%.

Overall, the country’s CPI in February has slid 0.05% against the previous month and 0.25% compared to last December, but edged up 0.34% over a year ago. The national CPI in the first two months of this year has risen by 0.64% against the same period last year.

The February CPI in cities is expected to fall by 0.13% against last month and stay unchanged in rural areas.

Most cities and provinces have reported a CPI drop against last month with HCMC having the sharpest fall of 0.4%, followed by Hanoi, Thai Nguyen, and Haiphong with 0.07%. Meanwhile, the central provinces of Thua Thien-Hue and Khanh Hoa have reported an increase in consumer prices in February at 0.18% and 0.04% respectively.

CPI down 0.05% in Tet month Related image(s)