Hanoi sees 1.98 per cent increase in CPI

February 22, 2011 | 09:50

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Hanoi’s consumer price index (CPI) in February increased by 1.98 per cent over last month and 11.72 per cent compared to the same period last year, the Hanoi Statistics Office (HSO) said.

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Of the 11 consumption categories, only post and telecom services remained unchanged in comparison with last month.

The biggest price hikes in the month were seen in food and restaurant service staples with 4.17 per cent, including food up 5.37 per cent, followed by drinks and cigarettes group with an increase of 2.25 per cent.

Footwear and garment staples, tourism and recreation services saw an increase rate below 1 per cent.

According to HSO analysts, foodstuffs prices are rose strongly in February as a result of high demand during the busiest season of the Lunar New Year festival.

Within the month, the gold price fell by 0.7 per cent month-on-month but increased 34.67 per cent over the same period last year while the US dollar price was slightly up, by 0.74 per cent month-on-month and increased 9.63 per cent over the corresponding period last year.

Meanwhile, CPI in southern hub up by 1.61 per cent, an increase of 9.22 per cent over the same period last year.

In the lead were drinks and cigarettes, up 3.45 per cent, followed by the entertainments and tourism sector at 2.58 per cent.

Economists have blamed the recent rise in the price of fresh food on the high demand normally seen during the Lunar New Year Festival. They added that the recent post-Tet growth in CPI was still lower than the rate recorded in the same period last year, attributable to adequate preparations, especially the price stabilising programme, introduced by the Ho Chi Minh City administration.

The prices of fresh seafood, for example, increased by between 30 and 40 per cent but were still considered normal and acceptable by consumers.

VIR/VNA

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