Hanoi’s CPI down 0.07% in February
(VOV) - Hanoi’s February consumer price index (CPI) inched down 0.07% from last month, but marked a rise of 0.11% against the same period last year, according to the municipal General Statistics Office (GSO).
During the month, transportation recorded the steepest decrease of 3.38%, followed by housing, electricity, water, fuel and construction materials (down 0.62%).
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Only post and telecommunication services kept unchanged. Eight out of 11 products saw price increase, however, they just rose slightly, such as restaurant services (up 0.48%), beverages and tobacco (0.42%), culture, entertainment and tourism (0.41%), equipment and household utensils (0.4%) and pharmaceuticals and medical services (0.06%).
According to Hanoi GSO, the CPI decline is attributable to the recent reduction in petroleum prices, pushing transportation prices down sharply although citizens’ travel demand rocketed now that the Lunar New Year (Tet) is approaching.