Vietnam’s consumer prices remain at 7-year high in Jan-Feb

Mar 02, 2020 / 01:29 PM

The CPI increased 5.91% year-on-year in the first two months of 2020, the highest growth rate for a two-month period over the last seven years.

Vietnam's consumer price index (CPI) in February saw a decline of 0.17% against the previous month but still up 1.06% versus the end of 2019 and 5.4% year-on-year, the highest growth rate for February in seven years, according to the General Statistics Office (GSO).

Data: GSO. Chart: Ngoc Thuy.

Five out of 11 commodity groups, which are components of the basket for CPI calculation, witnessed month-on-month hikes in prices. Among them, food and catering services posted the sharpest increase of 0.26%.

Other groups that saw their prices increase were medicine and healthcare services (0.13%), which was a result of a sharp increase in demand for medical equipment against the Covid-19 epidemic.

In addition, prices of household equipment and appliances went up 0.08%; education 0.04% and other goods and services 0.17%.

The six groups that saw their prices down in February were transportation (-2.5%), mainly due to petroleum price cut on February 14; culture, entertainment, and tourism (-0.43%); beverages and cigarettes (0.28%); garment, footwear and hats (-0.13%); housing, water and electricity supply, and construction materials (-0.03%); and post and telecommunications (-0.05%).

According to the GSO, core inflation in February picked up 0.17% month-on-month, and 2.94% year-on-year, resulting in an increase of 3.1% year-on-year on average in the January – February period.

Consumer spending in Vietnam continues to outpace ASEAN peers

27 Feb, 11:15

Vietnam’s modern grocery retail and pharmacy sector will benefit specifically from the country’s consumer spending growth story.

Tet demand drives Vietnam's January living cost to 7-year high

30 Jan, 11:49

Core inflation in January picked up 0.76% month-on-month, resulting in an increase of 3.25% year-on-year.

Vietnam posts five-year high FDI disbursement as investor confidence strengthens nationwide 2025

Despite global economic and geopolitical headwinds, foreign capital flows into Vietnam accelerated in 2025, with investment increasingly concentrated in high value-added sectors, highlighting the country’s growing appeal as a stable, long-term destination for investors.

16 Dec, 10:12 PM

VN-Index set for 2,200-mark next year: JP Morgan

Vietnam’s appeal goes beyond the upgrade, driven by major economic reforms that are lifting business and consumer confidence, as well as improving profit prospects over the next three to five years.

16 Dec, 03:35 PM

Vietnam to launch smart agriculture innovation center in Lang Son

The center is expected to bridge gaps in technology testing, connect farmers with researchers and markets and accelerate sustainable, high-tech agricultural development nationwide.

15 Dec, 07:28 PM

Hanoi urged to train 100,000 digital engineers through online academy

The Capital Strategic Technology Development Forum gathered a wide range of proposals from businesses, experts and investors on how Hanoi should shape its deep-tech development agenda in the coming decades with a long-term vision to 2045.

15 Dec, 07:16 PM

Inclusive innovation must give everyone equal voice, experts say at TECHFEST Vietnam 2025

Open innovation is becoming a cornerstone of Vietnam’s development strategy, as policymakers, experts and international partners emphasize people-centered collaboration to tackle inequality, climate change and urbanization through inclusive, technology-driven solutions showcased at TECHFEST Vietnam 2025.

14 Dec, 02:17 AM