Five-month CPI rises at lowest level in three years

The General Statistics Office of Vietnam recently announced that consumer price index (CPI) in May rose 0.49 percent compared to the previous month due to a sharp increase in fuel and power prices.
Average CPI in the first five months of this year surged 2.74 percent over the same period last year, the lowest level in the past three years. Particularly, in the increase of 0.49 percent of CPI in May, nine out of eleven commodity groups posted growth.
Transportation saw the highest increase with 2.64 percent, affected by two fuel price adjustments on May 2 and May 17, causing CPI to hike 0.25 percent.

Housing and building materials climbed 1.28 percent as power price jumped 6.86 percent, gas price mounted 0.6 percent, prices of house maintenance materials rallied 0.66 percent and house repairing service emerged 0.54 percent.

Beverages and tobacco inched up 0.18 percent; garment, textile, hats and footwear edged up 0.12 percent; household devices and appliances added up 0.11 percent; culture, entertainment and tourism went up 0.1 percent.

Restaurant and catering service and education both gained 0.05 percent; goods and other services advanced 0.13 percent.

Meanwhile, medicines and healthcare service declined 0.06 percent, of which healthcare service was down 0.1 percent; and post and telecommunication slid 0.05 percent.

Core inflation in May this year rose 0.13 percent over the previous month and soared 1.9 percent over the same period last year.

Average core inflation in the first five months of this year has escalated 1.85 percent compared to the same period last year.

By Anh Phuong – Translated by Thuy Doan

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