The CPI rose 0.45 per cent in February against January, according to the General Statistics Office (GSO).
Analysts attribute the increase to rising prices of oil, gasoline, and gas, which were fueled by higher global prices, together with higher house rentals due to growing demand after the Tet (Lunar New Year) holiday. Among the eleven main commodity groups, five posted month-on-month price rises while the remainder registered declines. Transport services reported the highest rise, of 2.11 percent, mostly due to a 5.66 percent increase in oil and gasoline costs, followed by housing and construction materials, at 1.81 percent, partly because of gas prices rising 14.56 percent since February 1. The prices of other goods and services, household equipment and appliances, and medicine and health services rose 0.12 percent, 0.09 percent, and 0.02 percent, respectively. Meanwhile, the cost of education, restaurant services, beverages, and tobacco, post and telecommunications services, apparel, footwear and hats, culture, and entertainment and tourism fell 0.57 percent, 0.17 percent, 0.12 percent, 0.08 percent, and 0.02 percent, respectively.