Petrol price hikes fuel CPI in February
VOV.VN - Vietnam’s consumer price index (CPI) in February increased by 1% month on month, 1.42% year on year and 1.2% compared to December 2021, the General Statistics Office (GSO) announced on February 28.
The February figure drove up the two-month CPI to 1.68% and core inflation to 0.67%.
The rise was attributed to the government’s decisions to hike domestic petrol prices three times in February on the rising trajectory in the global petrol market.
In addition the rising prices of food, foodstuff, catering and public transport services during the Lunar New Year holiday was also a prime factor behind the CPI surge.
Most notably, transport services witnessed the highest increase of 2.35% due to the impact of petrol price adjustments, followed by food and catering services at 1.54%.
Moreover, housing and construction materials reported a rise of 0.92% due to the energy price hike, along with a high demand for electricity and water consumption during the Lunar New Year period.
Elsewhere, the education, culture, entertainment, and tourism services edged up 0.51%, while beverage and tobacco group inched up by 0.37%.
Groups of commodities such as appliances and household goods, garment and footwear, drugs and medical services, along with other goods saw respective increases of 0.19%, 0.07%, 0.03%, and 0.22%.
In February, only the postal and telecommunications services suffered a decrease of 0.04%.
