Among the 11 commodity and service groups, 8 recorded price hikes, with the highest growth seen in the “Other goods and services” category at 1.33%. Conversely, 3 groups saw price declines, with the largest drop in the “Transportation” group at 0.4%.

The May figure drove the city’s five-month CPI to 4.27%. Again, 8 out of 11 groups posted price increases, with the sharpest rise in the “Medicine and healthcare services” group at 17%. The “Transportation” group saw the largest decline at 1.8%.

Nguyen Khac Hoang, head of the HCM City Statistics Office, warned the city’s inflation rate is rising faster than the national average and is notably higher than that of nearby localities such as Binh Duong and Ba Ria - Vung Tau hovering at around 1.5–2%. He suggested that the city reevaluate its consumer stimulus and market stabilisation programmes to make a timely response.

Hoang also noted that growth drivers in the city remain unclear, with economic growth still relying heavily on traditional sectors such as investment, exports, and consumption.

For other key indicators, the municipal Statistics Office revealed that the local Industrial Production Index (IIP) for May is estimated to have increased 5.1% month-on-month and 9.4% year-on-year. Five-month retail sales of goods and services totalled VND544.4 trillion, an increase of 16% year-on-year.

Exports are showing strong growth, hitting US$20.4 billion in five months, up 16% compared to the same period last year. State budget revenue is estimated at VND245.7 trillion, meeting 47% of the yearly target, up 4.4% year-on-year.

Rising apartment rental and food prices fuel April CPI up again

VOV.VN - The consumer price index (CPI) in April rose by 0.07% compared to March, fueled by rising apartment rental and food prices amid growing consumer demand.