Vietnam’s CPI up 0.55 pct in May

16:37 | 31/05/2018 Economy- Society

Vietnam’s consumer price index (CPI) inched up by 0.55 pct in May, the highest monthly increase since 2012, according to the General Statistics Office (GSO).

Vietnam’s CPI inched up by 0.55 pct in May, the highest monthly increase since 2012 - Photo: VNA

The index marked a 3.86 pct rise year-on-year and a 1.61 pct increase from last December. In the first five months of this year, it rose by 3.01 pct.

Among 11 commodity and service groups, nine posted monthly hikes in prices, including transportation (1.72 pct); food and catering services (0.88 pct); housing, water and electricity supply, and construction materials (0.34 pct); household equipment and appliances (0.1 pct); beverages and cigarettes (0.08 pct); culture, entertainment, and tourism (0.08 pct); apparel, headwear, and footwear (0.08 pct); medicines and health care services (0.03 pct); and goods and other services (0.02 pct).

Post and telecommunications services prices fell by 0.14 pct.

Do Thi Ngoc, head of the GSO’s Statistics Department, attributed the CPI growth to a rise in pork and animal feed prices, higher demand for dining and tourism during the April 30 – May 1 holiday, increased petrol and gasoline prices, as well as higher demand for electricity and water on hot days.

Factors bucking the trend of the CPI increase included fresh and processed fruits (down 0.03-1.16 pct), rental prices (down 0.25 pct).

The US dollar price was down slightly at about VND22,790.

Basic inflation (CPI exclusive of fresh food, energy, and State-controlled services such as health care and education) moved up 0.11 pct month-on-month and 1.37 pct annually in May, pushing its five-month figure up by 1.34 pct, proving that monetary policy remains stable.

Theo NDO/VNA