Want to be in the loop?
subscribe to
our notification
Business News
CPI RISES 1% IN FEB
Vietnam’s Consumer Price Index (CPI) in February increased 1% month-on-month, mostly due to a hike in the prices of fuel and food products, according to the General Statistics Office (GSO).
The prices of fuel products in the local market were revised up in line with the global fuel price hike, and the prices of food and foodstuffs, out-of-home dining and public transport services during the Tet holiday increased, thereby pushing up the index in February, said Nguyen Thu Oanh, head of GSO’s Price Statistics Department.
The CPI in February also inched up 1.42% year-on-year, she added.
Among the 11 groups of consumer goods and services in the basket of items used to calculate the CPI, only postal and telecommunication services registered a fall in price.
Meanwhile, transport services posted the highest spike of 2.35%, as local fuel prices soared up to 5.8% compared to January.
Food and catering services recorded an increase of 1.54% month-on-month, contributing 0.52 percentage points to the overall index.
Besides, housing and construction materials saw an increase of 0.92%, as the prices of input materials such as fuel, gas and electricity rose. Similarly, the prices of beverage and tobacco; cultural, entertainment and tourism services marked an increase of 0.73% and 0.51%, respectively.
During the first two months of the year, the CPI marked a growth of 1.68% versus the same period last year.
Further, the core inflation in February inched up 0.49% month-on-month and 0.68% year-on-year.
Source: The Saigon Times
Related News
![Card image cap](/uploads/Logo/Cathay%20%281%29.jpg)
ONE-TIME OFFER: COMPLEMENTARY CATHAY PACIFIC LOUNGE PASS
Begin your trip on the right note in Cathay Pacific’s first-ever ferry lounge, located at Shenzhen’s Shekou Cruise home port. Situated at the end of the pier, the ferry lounge offers a breathtaking 270-degree view of the sea. You can immerse yourself in sheer luxury and revel in the panoramic beauty. Catch a glimpse of Hong Kong in the distance.
![Card image cap](/uploads/news/Industrial%20Zone.jpg)
VIỆT NAM TARGETS FULL MOBILE BROADBAND COVERAGE ON HIGHWAYS, INDUSTRIAL ZONES BY 2025
By 2025, Việt Nam aims to achieve one hundred per cent mobile broadband coverage on all national highways, expressways and railways under a plan to enhance the quality of Việt Nam’s mobile telecommunications network by 2025, which has been approved by the Ministry of Information and Communications (MIC).
![Card image cap](/uploads/news/Investment6.jpg)
VIETNAM ONE OF FASTEST-GROWING E-COMMERCE MARKETS IN SOUTHEAST ASIA
The report released on July 16 highlighted that the total GMV of Southeast Asia’s eight leading e-commerce platforms rose to $114.6 billion in 2023, up 15 per cent from 2022. The key drivers for the region's e-commerce GMV expansion in 2023 are Vietnam and Thailand, growing 52.9 per cent and 34.1 per cent on-year, respectively.
![Card image cap](/uploads/news/Security.jpg)
2025 PIVOTAL FOR STOCK MARKET UPGRADE EFFORT
The Ministry of Finance (MoF) is expected to soon publish the entire content of the draft circular amending and supplementing four circulars on transactions, registration, depository, and clearing, as well as operations of securities companies and information disclosure. This move, along with feedback and explanations, aims to meet the criteria for upgrading Vietnam’s stock market.
![Card image cap](/uploads/news/bn-01.jpg)
VIETNAM INTENSIFIES E-COMMERCE TAX SCRUTINY
The department plans to offer guidance for and hold direct dialogues with e-commerce taxpayers to ensure compliance. Efforts will also include updating the e-commerce database, conducting risk analysis, and leveraging artificial intelligence (AI) to manage data and issue alerts.
![Card image cap](/uploads/news/eco2.jpg)
FOOTWEAR EXPORTS SEEN REACHING US$27 BILLION THIS YEAR
This optimistic forecast reflects the industry’s efforts to expand and diversify its markets. Lefaso indicated that Vietnam’s footwear sector will concentrate on traditional markets like the U.S. and the European Union, alongside markets with free trade agreements to maximize opportunities.