The Ho Chi Minh City Statistical Office reported a growth of 2.2 percent in the Consumer Price Index (CPI) in March over February, representing a year on year increase of 10.76 percent.

The office deputy director, Nguyen Duc Tri, added that the index rose 4.89 percent over the beginning of the year.

Leading the CPI growth was the transport sector with a rate of 7.73 percent, of which transport charges were up from 10 to 24 percent.

Ranking second was the group of housing and construction materials at the growth rate of 2.62 percent, followed by foods and foodstuffs at 2.38 percent.

Economists blamed the problem on the fuel price hike on the world market trend and an increase in electricity charges to VND1,242 per Kwh on average.

In addition, the CPI was affected by the devaluation of the local currency against the greenback to VND20,693 for one dollar by the central bank.

In March, the gold value rose 5.22 percent.

VOVNews/VNA