VietNamNet Bridge - Vietnam’s consumer price index (CPI) in February increased by 2.09 percent over last month, nearly touching the record rate of 2.14 percent in June 2006 amid the global financial crisis, according to General Statistics Office.

The newly-released figure has raised the country’s CPI to 3.78 percent in the first two months of this year, while the whole year’s target set by the National Assembly (NA) in under 7 percent.

The biggest price hikes in the month were seen in food and restaurant service staples (3.65 percent), including food (4.53 percent), followed by drinks and cigarettes group (2.14 percent).

Footwear and garment staples rose 1.38 percent, tourism and recreation services increased by less than 1 percent.

Of the 11 consumption categories, only post and telecom services edged down 0.01 percent.

According to GSO analysts, foodstuffs prices rose strongly in February as a result of high demand during the busiest season of the Lunar New Year festival.

During the month, the gold price fell by 0.35 percent, while the US dollar price rose 0.9 percent month-on-month. They are not included in the CPI calculation.

January-February’s inflation was forecast to stand at over 3.4 percent and it may be up to 4 percent in Q1, according to the NA Standing Committee in a last week in Hanoi.

Source: Tuoi Tre