Vietnam sees CPI up 4.96 pct in Q1

The consumer price index (CPI) of Vietnam rose 4.96 percent year-on-year in the first three months (Q1) of 2017, announced the country's General Statistics Office (GSO) on Wednesday.

Of the 11 items in the CPI calculation basket, price of 10 groups increased, with the highest rises recorded in pharmaceuticals and healthcare service at 49.69 percent and in education at 11.8 percent year-on-year, respectively.

Rising healthcare service price and tuition fees were the major reason behind the rise of the groups, said Vu Thi Thu Thuy, head of GSO's Price Statistics Department.

In Q1, the price of housing and construction materials increased 4.53 percent and transportation up 9.79 percent against the same period last year. Thuy attributed the hikes to the consumer's increasing demand in the construction field and the rise in fuel price over the period.

Post and telecommunication was the only group experiencing a downturn in the first quarter of 2017, at 0.7 percent year-on-year.

In March alone, Vietnam's CPI increased 0.9 percent against December 2016 and 4.65 percent year-on-year.

Vietnam aims to keep CPI rise at lower than 4 percent throughout 2017 compared to December 2016 and will strive to achieve that target, said the official. Enditem