CPI in February inches up 0.45% on petroleum, housing price hikes

Vietnamese consumer price index (CPI) in February edged up by 0.45% from the previous month, according to the General Statistics Office on February 28.

The latest CPI rise can be attributed to rising domestic petroleum prices which are in line with global fuel prices, while rental housing prices continued to increase due to high demand following the recent Lunar New Year holiday.

Compared to December last year, the index increased by 0.97%.

Among the 11 main groups of consumer goods and services, five groups witnessed a rise in price compared to the previous month, while six groups experienced a downward trajectory.

February’s CPI edged up by 4.31% against the same period from last year, with nine groups recording an increase in price and two groups registering a decline.

Meanwhile, core inflation in February rose by 0.25% compared to the previous month and by 4.96% year on year.

In the first two months of the year, the average core inflation increased by 5.08% compared to the same period from last year.

From July 2022 to December 2022, petroleum prices that were not included in core inflation calculations continuously decreased, contributing to restraining the CPI growth rate.

VOV