09:21 30/03/2023

CPI rises 4.18% in Q1

Vũ Khuê -

Increases in housing and construction materials add to CPI increase.

Vietnam’s consumer price index (CPI) rose 4.18 per cent year-on-year in the first quarter, according to the General Statistics Office (GSO).

The increase can be attributed to higher prices for housing and construction materials, which rose 7.17 per cent and added 1.35 percentage points.

Prices of food and foodstuffs were up 4.41 per cent due to rising demand during the Tet (Lunar New Year) holiday, which added 0.94 percentage points.

Education prices were up 10.13 per cent as some localities ended tuition fee exemptions and reductions aimed at easing difficulties during Covid-19. This added 0.62 percentage-points to the increase.

The price of rice in the domestic market rose 2.24 per cent following increases in rice export prices and high demand during Tet, adding 0.06 percentage points.

Factors reining in the CPI included falling prices for gasoline, gas, and post and telecom services.