CPI increases by 0.01% in May
A man shop at a supermarket in Hanoi. (Photo:VNA)
The General Statistics Office (GSO) on May 29 announced that the May consumer price index (CPI) increased by 0.01% month-on-month mostly due to increases in prices of food, electricity, and water.
The May CPI increased by 0.4% compared to December 2022 and 2.43% from the same period last year.
The average CPI of the first five months of this year rose by 3.55% over the same period last year.
The year-on-year rise in CPI from the beginning of this year tends to slow down gradually with 4.89% in January, 4.31% in February, 3.35% in March, 2.81% in April 2.43% in May, the GSO pointed out.
Factors that pushed the CPI up in the first five months of this year include the increased prices of education, housing and construction materials, culture/entertainment, and tourism because of increasing demand after the COVID-19 pandemic was put under control.
In addition, prices of food items hiked by 3.8%, mainly due to higher consumer demand during holidays and festivals.
Meanwhile, factors that pulled the CPI down during the period included the falling prices of fuels and postal and telecommunications products.
According to the General Statistics Office, core inflation in May increased by 0.27% over the previous month and by 4.54% over the same period last year. The average core inflation of the first five months of this year rose by 4.83% year-on-year, higher than the CPI growth rate (3.55%)./.
Related News
Wood exports started well
13:26 | 20/04/2024 Import-Export
Leverage to increase the scale of Vietnam - Laos trade turnover
10:51 | 15/04/2024 Import-Export
Vietnam-China trade reaches over US$ 27 billion
09:29 | 10/04/2024 Import-Export
How more than 6 tons of smuggled gold transported to Vietnam?
07:49 | 05/04/2024 Anti-Smuggling
Latest News
Government’s action programme cracks down on illegal fishing
13:53 | 23/04/2024 Headlines
PM calls on ASEAN to pen strategic development vision
13:50 | 23/04/2024 Headlines
Forum to discuss new initiatives on ASEAN future vision: Deputy FM
15:13 | 22/04/2024 Headlines
Investors play a key role in developing the industrial park system
10:38 | 22/04/2024 Headlines
More News
Green transformation and ESG practice to participate in the global competition
18:11 | 21/04/2024 Headlines
Factors influencing Vietnam’s FMCG market
18:06 | 21/04/2024 Headlines
Shrimp exports to major markets bounce back
17:57 | 21/04/2024 Headlines
Quang Ninh aims to become international tourism hub
17:56 | 21/04/2024 Headlines
Measures sought to boost Vietnam - Russia digital economic cooperation
17:43 | 20/04/2024 Headlines
Vietnam becomes biggest rice supplier for Singapore
17:39 | 20/04/2024 Headlines
New fulcrums for economic growth
13:28 | 20/04/2024 Headlines
Opportunity for a high open economy like Vietnam
15:56 | 19/04/2024 Headlines
Cooperation with Vietnam among EU’s priorities in Indo-Pacific: official
15:55 | 19/04/2024 Headlines
Your care
Government’s action programme cracks down on illegal fishing
13:53 | 23/04/2024 Headlines
PM calls on ASEAN to pen strategic development vision
13:50 | 23/04/2024 Headlines
Forum to discuss new initiatives on ASEAN future vision: Deputy FM
15:13 | 22/04/2024 Headlines
Investors play a key role in developing the industrial park system
10:38 | 22/04/2024 Headlines
Green transformation and ESG practice to participate in the global competition
18:11 | 21/04/2024 Headlines