Business

CPI increases about 4.2% in first quarter

The consumer price index (CPI) in the first quarter of 2023 is estimated to rise 4.2-4.3% year on year, according to the Price Management Department under the Ministry of Finance.
CPI increases about 4.2% in first quarter ảnh 1Illustrative image (Source: VNA)
Hanoi (VNA)– The consumer price index (CPI) in the first quarter of 2023 is estimated torise 4.2-4.3% year on year, according to the Price Management Department underthe Ministry of Finance.

The department clarifieda number of major reasons behind the increase, including the rising price ofhousing and construction materials (7.2%), which pushed the CPI in the periodup by 1.4%.

Meanwhile, a 4.5%increase in the price of food and foodstuff due to high demand during theLunar New Year festival in early February also contributed 1% to the CPIincrease.

At the same time, education service prices rose 11% as somelocalities ended the tuition fee exemption and reduction scheme that aimed toease people’s difficulties during COVID-19 pandemic. This also led to 0.6% risein CPI in the period.

A 3.3% rise in theprice of electricity also pushed the CPI up by about 0.1%, the departmentadded./.
VNA
#Price Management Department#consumer price index (CPI)#construction materials#CPI#Vietnam#Vietnam news#Vietnam News Agency
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