The Q1 CPI surged 0.31% slightly before Tet holidays and then increased by 1.1% sharply in February and reduced 0.176% in March, which was up 1.32% compared to December 2008 and 14.47% year-on-year, the GSO said.

This year's CPI is forecasted by rise by 6-9%.

In March, prices of restaurant services decreased 0.46% against February while that of postal and transportation services dipped 0.55%, group of culture, sport and entertainment down 0.12%. As for remaining groups of commodities subject to the calculation of CPI, the prices surged 0.09-0.35% month on month.

Notably, the gold price in March increased by 5.44% m-o-m and 15.55% from last December. As for price of US dollar, the corresponding growth rates were 0.19% and 2.6%.

While the March CPI of urban areas fell 0.07%, that of rural areas saw a higher reduction of 0.27%.

Kinh Te Vietnam & The Gioi - March 25, 2009