Official statistics also report that large supermarkets, such as Big C and Coop mart, are reporting only modest increases in merchandise sales, with minimal increases in sales of non-food goods and home appliances.

Food prices saw only a modest increase of 0.16% month on month, while the prices of export rice remained stable thanks to market stabilization measures.

Nearly 7,800 stalls, which focused on providing basic necessities, such as eggs, cooking oil, sugar, and processed meat, were established throughout the city to ensure an adequate supply for Tet.

A recent adjustment in the retail price of oil and gas drove up the price of transport services and a number of Tet goods.

Other items in the CPI goods basket that saw modest rises include transport, housing, construction material, garments and textiles, footwear, and services.

Healthcare services, the only item in the CPI basket that declined 0.12% when compared to the previous month.

Meanwhile, the prices of domestic gold dropped by 1.37% and the exchange rate of US dollar (US$) and Vietnam dong (VND) by 0.04%, from a month earlier.