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Consumer price rise at 8-year high
Updated: 09:52, 02/03/2021
February saw consumer prices rise by 1.52 percent, the highest rate in eight years. The General Statistics Office attributed the sharp rise to Vietnam Electricity ending its electricity subsidy and an increase in food and transport costs during the Lunar New Year holidays (Tet) in February.
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A woman selecting vegetables in a supermarket in Hanoi. Photo by Shutterstock/I’m Leohoho. |
In the basket of goods and services that make up the consumer price index (CPI), prices rose in 10 major groups: housing and construction materials rose by 4 per cent, food and catering services by 1.61 percent as demand surged during Tet and transportation by 1.55 percent as petrol prices increased twice.
However, the year-on-year increase in the CPI was 0.7 percent, the lowest rate since 2016.
Inflation in 2020 measured 3.23 percent, well below the 4 percent target set by the National Assembly.
The northern province of Hai Duong, the largest hotspot in the latest Covid-19 outbreak, is to end province-wide social distancing measures and lift lockdowns on Chi Linh city and Cam Giang district on March 3.
A wide range of cultural activities are being held through March in localities across the country, in accordance with regulations on Covid-19 prevention and control.
Source: VnExpress
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