Hanoi CPI jumps by 1.98% in Feb 2011: GSO

Hanoi consumer price index (CPI) is estimated to have increased by 1.98% on-month in the second month of 2011 driven by the peak consumption season on a long Tet holiday.

Hanoi consumer price index (CPI) is estimated to have increased by 1.98% on-month in the second month of 2011 driven by the peak consumption season on a long Tet holiday, the online newspaper VnEconomy reported on February 21, citing the Hanoi Statistics Office said.

The biggest price hikes in the month were still seen in food and restaurant service staples with 4.17% including food (+5.17%), catering service (2.94%) and food stuff(+1.21%).

Drinks and cigarettes group followed with an increase of 2.25% on month. Footwear and garment staples ; tourism and recreation services increased by 0.78% and 0.72%, respectively.

Post and telecom service run at a slowest pace of 0.32% this month.

Earlier, analysts expected CPI to peak in February during the hottest season of Lunar New Year festival and start to ease in late first quarter, possibly bottom in the third quarter this year.

Last year, Hanoi CPI rose 1.3% in January and peaked in February with a rise of 2.61%.

Ho Chi Minh City consumer price index (CPI) is estimated to have increased by 1.61% on-month and 9.22% on-year

Vietnam inflation is likely to surge by 3.4% in the first two months of this year, and accelerate by 4% in the first quarter, the online newspaper Danviet reported on February 19, citing the National Assembly’s Finance and Budget Committee. – Stoxplus.com

Tags: Vietnam CPI, Vietnam CPI 2011, Vietnam economic, Vietnam economy