Friday, 30/03/2018 22:27 (GMT+7)
After rising sharply to 0.73% in February (Tet month), the Consumer Price Index (CPI) dropped to 0.27% in March, reported General Statistics Office (GSO).
Photo for illustration
According to the GSO, the price index reduction in March was due to
sharp decrease in prices of commodities and services groups.
Accordingly, the sharpest reduction was seen in restaurants and catering services at 0.62%, in which food soared 0.35%, foodstuff decreased 1.05% and restaurants fell 0.02%. This group occupies the biggest share of the CPI basket, thus, its price decline pulled March CPI down.
Other groups which were influenced by other Tet elements also witnessed CPI reduction, such as beverages and cigarettes (0.28%), clothing, hats and footwear (0.17%), culture, entertainment and tourism (0.09%), other commodities and services (0.1%).
In addition, petrol and oil price cuts on February 21st contributed to lowering prices of some groups such as transport (0.77%), housing and building materials (0.28%) and post and telecom (0.04%).
Meanwhile, this month saw CPI increases in groups of medicine and health services (1.98%), equipment and housing appliances (0.02%) and education (0.01%).
With the sharp reduction in March, CPI has increased only 0.97% since the beginning of the year, much lower than 2.66% of the same period last year.
Basic inflation this month decreased 0.09% against February and only surged 1.38% over a year earlier. The index in the first quarter also rose 1.34% compared to the same period last year./.
BTA