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March CPI rises

Released at: 11:16, 25/03/2015

March CPI rises

CPI in March increases 0.15 per cent against February, though mitigating factors were at play.

by Minh Tuyet

The March CPI rose 0.15 per cent compared to February and 0.93 per cent year-on-year, according to the General Statistics Office (GSO). The result was somewhat unexpected, as the CPI traditionally falls after the Tet holiday.

Experts, though, believe that March this year can be considered to have been within the Tet holiday. The March figure is tallied from February 16, which was two days before Tet, when spending for the holiday is at its highest. The March figure also includes the actual days of Tet, when a lot of money is spent on food and beverages.

Food and catering services did indeed see the highest increase, of 0.36 per cent, compared to February. Cereals fell 0.24 per cent, whereas meat rose 0.31 per cent and restaurant catering services increased 1.07 per cent.

Experts explained that cereals saw a decline because supplies were plentiful and stable, while demand for meat increased because of Tet. 

Culture, sport and entertainment increased 0.18 per cent compared last month, which is understandable, again, because of the Tet holiday.

On the other hand, five sectors saw lower prices in March compared to February. The sharpest decline was recorded by the transport sector, which fell 0.31 per cent because of lower gasoline prices.

The gold price fell 1.63 per cent during the month, while the US dollar rose 0.16 per cent against February.

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