Today: 29 May 2004
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Food prices spur consumer index up

The consumer price index spiked 4.1 per cent year-on-year in February because of a sharp rise in food prices, the General Statistics Office has reported

Prices rose 3 per cent over January

Food prices surged 6.8 per cent month-on-month �€“ and 11.1 per cent in major cities �€“ in the aftermath of the Tet season, which came at the end of January. The bird flu outbreak, and subsequent ban on poultry trading, also caused pressure on food prices as did the cold snap, which took a toll on vegetables.

Real estate and construction material prices rose 1.5 per cent over the previous month because of rising steel ingot prices internationally.

Cultural, sporting and recreational activities cost 1.6 per cent more while transportation, post and communications and home appliances rose 0.7 per cent.

The only prices that fell during the period were of clothing, footwear and hats �€“ by 0.3 per cent.

Though gold prices did drop nearly 1 per cent after a relentless two-month surge, they remained 17.1 per cent higher than the last year period.

The US dollar strengthened by 0.4 per cent against the dong.

Monthly inflation in Ha Noi was 0.3 per cent higher than the national average, at 3.3 per cent, though in HCM City it matched the average.

VNS - (27/02/2004)

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