Vietnam’s CPI increases 4.18% in the first quarter of 2023
Vietnam’s consumer price index (CPI) increased 4.18% year-on-year in the first quarter of 2023, according to the General Statistics Office of Vietnam at the Ministry of Planning and Investment.
The Ministry of Finance attributed the CPI rise to a 7.2% increase in housing and construction material prices and a pickup of 4.5% in food prices.
The increasing housing and construction material prices resulted from higher rent and input costs such as cement, steel and sand, which contributed 1.4% to the overall growth.
Meanwhile, the strong food demand during the Lunar New Year holiday in January sent food prices up, thus pushing up the CPI by 1%.
Education services edged up 11% as tuition fee support in some parts of the country had ended, resulting in an increase of 0.6% in the CPI.