Petrol, power push up CPI in January

The consumer price index (CPI) in January rose by 0.51 per cent over the previous month and 2.65 per cent over the same month last year. This was revealed in the latest update of the General Statistics Office (GSO). This was the highest month-on-month increase in the past three years, compared to 0.46 per cent in January 2017, zero per cent in January 2016 and a drop of 0.2 per cent in January 2015. The hike in CPI was driven by the increase in prices of a majority of products with Tet (Lunar New Year) holidays around the corner, pushing up shopping demand, said Do Thi Ngoc, Deputy Director of GSO’s CPI Department. According to the statistics, 10 out of 11 major categories of goods and services saw a jump in prices in the first month of this year. Medicine and healthcare services were up by 1.83 per cent, transportation services by 1.17 per cent, housing and building material by 0.55 per cent, restaurants and catering services by 0.44 per cent and beverage and tobacco products by 0.35 per cent. Only the prices of telecom services saw a drop by 0.09 per cent. The increase in petrol and oil prices since the beginning of this year contributed 0.11 per cent to CPI’s increase in January, while the increase in electricity prices by 2.64 per cent since the beginning of December contributed 0.06 per cent. The hike in healthcare services by 2.34 per cent in nine provinces and cities under central… [Read full story]

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