Hanoi’s CPI increases by 1.77% in 2021

In detail, Hanoi's CPI grew by 1.77 percent year on year in 2021, a low level compared to the figures recorded in recent years, according to the municipal Statistics Office. In December alone, the index dropped by 0.21 percent monthly but increased by 2.55 percent from a year earlier.

Compared to the previous month, a downturn was seen in four groups of goods, including transport (1.69 percent); housing, electricity, water and building materials (0.75 percent); education (0.44 percent) and post and telecommunications (0.01 percent).

By contrast, the prices of the remaining seven groups rose. The highest growth was seen in food and restaurant services (up 0.37 percent) as well as beverage and cigarette (0.19 percent), as consumption demand was higher for the year-end period and upcoming Lunar New Year holiday.

The prices of culture-entertainment-tourism group were 0.16 percent higher the previous month as a result of the city’s reopening of many tourism destinations.

In a related development, Hanoi’s Gross Regional Domestic Products (GRDP) was estimated to increase by 6.69 percent in the fourth quarter of 2021, and by 2.92 percent in the whole year, the municipal Department of Planning and Investment reported.

According to director of the department Do Anh Tuan, total State budget collection of the city in 2021 almost hit 263 trillion VND, 11.7 percent higher than the amount assigned by the Government, and equivalent to 91.5 percent of last year's revenue.

As many as 160.2 trillion VND were channeled into development investment in the fourth quarter, up 88 percent compared to the previous quarter and 9.9 percent year-on-year, bringing the year's total to over 410 trillion VND, down 0.8 percent.

As of December 27, nearly 25.4 trillion VND of public investment sourced from the State budget was disbursed, equal to 60.9 percent of the plan assigned by the Prime Minister, the department said.