Rising consumer demand drives up CPI in January

VIETNAM, January 30 - A fashion shop at Big C Thăng Long Supermarket in Hà Nội. VNA/VNS Photo Hoàng Hiếu

HÀ NỘI — The Consumer Price Index (CPI) in January posted a year-on-year rise of 1.94 per cent and inched up by 0.19 per cent compared to the previous month, announced the General Statistics Office (GSO) on January 29.

It was also the last month of the lunar year, seeing an upward trend of prices of

necessities and consumer services prior to Tết (Lunar New Year), the largest and longest festival of the Vietnamese people.

In addition, hikes of petrol prices in tandem with global fuel prices attributed to the increase.

Among seven groups of commodities and services experiencing rising prices last month, transport witnessed the highest year-on-year increase of 14.55 per cent. 

Housing and construction materials expanded by 3.51 per cent because of higher prices of home repair materials; beverages and tobacco rose 2.75 per cent.

Prices of textile products, footwear and clothes; household equipment and appliances; medicine and health services saw marginal rises.

Meanwhile, education posted a decline of 3.78 per cent against the same period last year as tuition fees were exempted or reduced in some centrally-run localities. Post and telecommunications decreased by 0.65 percent.

Food and catering services; and cultural, entertainment and tourism services inched down by 0.14 percent and 0.11 percent, respectively.

Core inflation in January increased 0.26 per cent from the previous month and was up 0.66 per cent compared to a year ago, the GSO said. — VNS