Vietnam's CPI forecast to rise 0.16% in march

Vietnam's consumer price index (CPI) is forecast to rise only 0.16 percent in March over the previous month, making the index reach 2.55 percent so far this year, according to the General Statistics Office (GSO) on Monday. However, the figure would post a year-on-year increase of 15.95 percent, much higher than the government's set target of one-digit inflation rate by the end of this year. Accordingly, of the 11 commodities, only post and telecoms services and food and restaurant services groups fell 0.02 and 0. 83 percent respectively, while the others increased by between 0. 07-2.31 percent. Housing and construction materials hit the highest growth rate during the month, and drinks and cigarettes saw the lowest increase. The trend of growth was said due to the 10 percent increase in petrol prices and 8.58 percent hike in gas prices, said GSO. Price of gold and the U.S. dollars, not included in the calculated commodities, in the domestic market this month decreased by 0.44 and 0.63 percent respectively. March CPI in the two big cities of capital Hanoi and southern Ho Chi Minh City was forecast to increase by 0.19 percent and 0.12 percent respectively.