Hanoi: March CPI down 0.21% against February
The March CPI in Hanoi fell 0.21% month-on-month but rose 1.12% year-on-year, according to the municipal Statistics Office.
Seven out of 11 groups of commodities posted price declines in March compared to February, with food and catering services experiencing a fall of 1.54%, driven by declines in the price of food (2.24%) and fruit and vegetables (8.97%). Many types of fruit and vegetables saw a bumper harvest, which provided the market with an abundant supply and eased the pressure on prices.
Others witnessing month-on-month falls included beverages and tobacco (0.41%), post and telecommunications (0.22%), and culture, entertainment, and tourism (0.11%).
Growth was seen in three groups, with the largest rise of 2.36% recorded in transport as a result of petrol and oil prices being revised upwards twice during the month, by a total of 6.87% and 7.9%, respectively.
Housing, electricity, and construction materials fell 0.35% while education services eased 0.01%.
The index rose 0.04% year-on-year in the first quarter on the back of rising prices in education services (2.72%), beverages and tobacco (1.4%), housing, electricity, water, fuel, and construction materials (0.8%), and home appliances (0.78%).
Three groups posted weakening prices, with the largest fall of 5.13% seen in transport as people refrained from travelling during the Tet (Lunar New Year) holiday following a resurgence of COVID-19 in late January.
Gold prices in March were down 3.51% month-on-month but up 15.45% year-on-year. They grew by an average of 22.33% from January to March.