Vietnam's CPI Records 3.56 per cent Rise in February

5:47:22 PM | 3/3/2008

Vietnam’s consumer price index (CPI) in February is estimated to have soared 3.56 per cent from January, bringing the CPI rise in the first two months to 6.02 per cent, the General Statistics Office (GSO) reported February 27.

CPI surge was mainly attributed to the rapid increase in food and foodstuff prices, which jumped up 6.18 per cent in February. The group makes the greatest proportion of 42.8 per cent in the commodity basket to calculate CPI.

A state media said consecutive diseases and floods, a prolonged cold snap, and high demand for goods during Lunar New Year festival, which falls in February, pushed up the prices food by 3.25 per cent and foodstuff by 7.53 per cent in the month.

Despite the fall of 3.55 per cent in telecom services prices, the transport and communication group still saw the CPI hike of 7.27 per cent.

Price hikes in culture, sports and entertainment services, drinks and raw materials for the production of steel, iron, cement and petroleum also lifted CPI up.

Despite the fall of 0.22 per cent in telecom services prices, the transport and communication group still saw the CPI rise of 1.51 per cent.

The prices of gold surged 5.91 per cent on month, while the prices of U.S dollar fell 0.12 per cent against the Vietnamese dong.

Followings are details of each group:

	Index in Feb 2008 compared with ( per cent)
	Base year 2005	Feb 2007	Dec 2007	Jan 2008
Consumer price index	129.17	115.67	106.02	103.56
Food and foodstuff	143.54	125.23	110.17	106.18
Of which: -Food	142.36	117.71	106.71	103.25
-Foodstuff	144.48	129.06	111.56	107.53
Beverage and cigarette	119.51	106.25	103.69	101.89
Garment, footwear, hat	116.90	107.19	102.78	101.36
Housing and construction materials	132.58	116.36	104.31	101.39
Household appliances and goods	114.99	105.19	101.59	100.73
Medical products and health care	114.39	107.59	101.13	100.46
Means of transport & communication	117.51	108.73	101.48	101.51
Of which: Postal services & Telecoms	84.21	88.03	91.20	99.78
Education	108.26	101.88	100.30	100.10
Culture, sport and entertainment	108.44	101.86	102.40	102.34
Other consumer goods and services	125.70	112.10	106.09	103.40
Gold price index	204.46	140.41	111.28	105.91
US dollar price index	101.07	99.92	99.62	99.88

In urban areas, the CPI went up 3.66 per cent from January and 5.93 per cent from December 2007. It rose 3.5 per cent and 6.12 per cent in rural areas, respectively.

The February CPI of 3.56 per cent is faster than the rise of 2.5 per cent-3 per cent forecast by the Trade Center under the Industry and Trade Ministry in early February.

The consumer price index saw a record increase of 12.63 per cent in 2007 compared to 2006. (GSO Feb 2008)

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