CPI rises slightly on low purchasing power
(VOV) - The General Statistics Office has reported Vietnam’s consumer price index (CPI) rose 0.69% over January compared to the previous month.
The relatively modest rise is attributable to the price stabilisation programmes localities have applied to essential commodities ahead of the Lunar New Year (Tet) Festival. Market purchasing power also remains weak.
The 1.22% increase in transport costs was the month’s most dramatic, followed by housing and construction materials (1.02%); garments, hats, and footwear (0.89%); alcohol and cigarettes (0.83%); restaurants (0.77%), utensils (0.39%); culture, entertainment, and tourism (0.21%); pharmaceuticals and medical services (0.17%); and education (0.01%).
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Petroleum rose 0.86% thanks to the December 18 price adjustment of 2.38%.
The monthly CPI edged up 0.7% in Hanoi, 0.4% in HCM City, 0.43% in Thai Nguyen, 0.67% in Haiphong, 0.92% in Thua Thien-Hue, 0.74% in Danang, 0.86% in Khanh Hoa, 1.29% in Gia Lai, 0.4% in Vinh Long, and 0.83% in Can Tho.
The GSO reported January’s gold index fell 1.82% from December levels and 25.74% on an annual basis. The dollar index was down 0.06% compared to the previous month and up 1.03% higher than the same period last year.