The consumer price index (CPI) for March fell 0.27 per cent month-on-month, according to the General Statistics Office (GSO).

According to GSO, the reduced CPI in March can be attributed to under-consumption due to lower demand after Tet (Vietnamese Lunar New year).

Although the CPI in March was down 0.27 per cent compared to February, it increased by 2.66 per cent year-on-year and 0.97 per cent against the CPI in December.

This made the CPI in the first quarter of this year rise by 2.82 per cent year-on-year, GSO said.

According to the office, eight of the 11 key groups of goods and services dropped compared to February and contributed to March’s reduction in the CPI.

Prices dropped 0.77 per cent for transport, 0.62 per cent for food and catering services, 0.28 per cent for beverages and tobacco and 0.17 per cent for garments, hats and footwear.

Other groups with reduced prices included housing and building material (down 0.28 per cent), cultural, entertainment and tourism services (0.9 per cent), post and telecom services (0.01 per cent) and other goods and services (0.1 per cent).

Some groups of goods and services, however, registered an increase in prices. These include medicine and health services (up 1.98 per cent), home appliances (0.02 per cent) and education (0.01 per cent). — VNS