Vietnam's consumer price index (CPI) in the first quarter of 2023 is estimated to have risen 4.2 - 4.3% year on year, Vietnam News Agency (VNA) reported, quoting data from the Price Management Department under the Ministry of Finance. The department gave a number of major reasons for the increase, including the rising price of housing and construction materials (7.2%), which pushed the CPI in the period up by 1.4%. A 4.5% increase in the prices of foodstuff, due to high demand during the Lunar New Year festival in early February, also contributed 1% to the CPI increase. At the same time, education service prices rose 11% as some localities ended the tuition fee exemption, and there was a reduction of the scheme that aimed to ease people's difficulties during the COVID-19 pandemic, which led to a 0.6% rise in the CPI in the period. A 3.3% rise in the price of electricity also pushed the CPI up by about 0.1%, the department added.
