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HANOI, Jan 23 (AFP): Vietnam's inflation rate increased 8.8 per cent in January from a year earlier, partly due to the consumption craze ahead of the traditional Tet lunar new year celebrations, officials said today.
In just one month, the consumer price index was up by 1.2 per cent, according to official figures released by the General Statistics Office.
Analysts however said the increase should not come as a surprise as most Vietnamese people receive a bigger salary for Tet and spend to celebrate the new year.
"Every year, when Tet comes, the demand is extremely high resulting in an increase in prices. It's normal and understandable," said Nguyen Khanh Long, director of the Market Pricing Research Institute.
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