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Vietnam's March CPI dips

Publication Date : 25-03-2014

 

Vietnam's consumer price index (CPI) in March dropped by 0.44 per cent from the level in the previous month.

However, March CPI was still higher by 0.8 per cent than the December 2013 level.

According to the Director of the General Statistics Office (GSO)'s CPI department, Nguyen Duc Thang, March's CPI slide was due to the sharp decline in consumer demand following the celebration of the Lunar New Year in February, the country's most important holiday.

Thang said local consumers also cut their spending due to economic difficulties and stagnant production.

The prices of some of the 11 commodities used to calculate the CPI fell in March, GSO reported.

The prices of food and foodstuff fell by 0.06 per cent this month. Housing and construction materials (including rent, electricity, water, fuel and construction materials) declined by 0.74 per cent.

The prices of traffic services postal services and telecommunication fell by 0.03 per cent, the data showed.

In the same month, the prices of beverages and tobacco reported the highest price hike of 0.24 per cent, followed by the prices of household appliances and goods with a hike of 0.16 per cent.

The cost of other items/services, including culture, entertainment and tourism; medicine and health care; garment, footwear and hats, and education inched up by 0.03 to 0.10 per cent.

In the urban areas, the March CPI decreased by 0.41 per cent and in rural areas by 0.45 per cent.

Not included in the CPI basket of commodities, gold prices in March rebounded by 3.31 per cent.

 

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