Prices of food and food services in March dropped 1.42 percent from the previous month (Photo: VNA)Hanoi (VNA) – Lower prices in seven of the 11 groupsof consumer goods and services helped drag the consumer price index (CPI) inMarch down by 0.21 percent from last month, according to the General StatisticsOffice (GSO).
GSO General Director Nguyen Bich Lam said onMarch 29 that the CPI in March rose 0.69 percent from last December and 2.7percent year on year.
The core inflation – which is the CPI excludingfood items, energy products, and state-managed healthcare and educationalservices – in March dropped 0.06 percent against February. However, itstill rose 1.84 percent from the same period last year.
The CPI in the first quarter grew 2.63 percentyear on year – the slowest pace for Q1 in three years. The core inflation inthe first three months climbed 1.83 percent against the same period of 2018.
Month-on-month decreases were seen in seven groupsof goods in March, namely food and food services (down 1.42 percent); garment,headwear and footwear (0.17 percent); culture, entertainment and tourism (0.09percent); beverage and cigarette (0.08 percent); postal and telecom services(0.07 percent); household equipment and utensils (0.03 percent); and othergoods and services (0.04 percent).
[Infographics: CPI growth in first quarter lowest in three years]
Four groups with higher prices are transport (up2.22 percent), housing fees and construction materials (0.78 percent), medicineand healthcare services (0.03 percent), and education (0.01 percent).
Pointing out contributors to the GDP growth inQ1, Director of the GSO’s Price Statistics Department Do Thi Ngoc saidconsumption demand surged in January and February in anticipation of the LunarNew Year holiday, thus raising food prices. Prices of public transport servicesalso increased as a result of soaring travel demand during the long holiday.
Additionally, global prices of essentialcommodities like fuel and steel rebounded, leading to higher import, export,industrial production and agricultural production cost indexes in Q1.
Meanwhile, factors helping to curb the CPIgrowth included lower consumption demand after the Lunar New Year festival,impact of the African swine fever epidemic, and petrol and gas prices reviseddown during the period, Ngoc noted.-VNA
VNA
