March CPI inches up 1.16 percent, lowest yearly rise in 5 years

The Consumer Price Index (CPI) in March inched up 1.16 percent from the same period last year, the lowest rise since 2016, according to the General Statistics Office.

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Compared to the previous month, the March CPI slid 0.27 percent on the back of abundant supply and weaker demand after the Tet (Lunar New Year) holiday ended.

The average CPI of the first quarter rose by 0.29 percent, the lowest increase for Q1 recorded in the last 20 years, while Q1’s core inflation picked up 0.67 percent.

The Q1’s CPI increase was attributed to the rice price which surged 8.55 percent year-on-year from January-March as a result of rising global price and high demand for premium rice during the Tet holiday.

The prices of several main groups of goods and services also moved upward, pushing up the costs of catering services by 2.08 percent year-on-year.

Meanwhile, the government’s activation of aid packages for people and businesses affected by COVID-19 was among factors helping ease the pressure on Q1’s CPI./.

VNA