CPI increases by 0.05% in May
VOV.VN - The General Statistics Office (GSO) announced on May 29 that the May consumer price index (CPI) inched up by 0.05% on-month, with this mostly being due to increases occurring in the prices of pork meat and electricity.
The supply shortage of pork meat following the outbreak of African swine fever at the end of 2023 pushed its price up, whilst a spell of hot weather also contributed to pulling the CPI up during this period.
The May CPI increased by 1.24% compared to December, 2023, and by 4.44% from the same period last year.
The average CPI recorded in the first five months of the year rose by 4.03% over the same period from last year.
Among the 11 main groups of consumer goods and services, a total of seven saw price hikes compared to the previous month, while three groups endured a price decline.
Some commodities and services which saw price increases include food and catering services at 0.38%, housing and building materials at 0.38%, culture-entertainment-tourism services at 0.31%, beverages and tobaccos at 0.14%, and household appliances at 0.12%.
The three groups of goods and services witnessing falls in prices consisted of postal and telecommunications services which declined by 0.09% as a result of lower mobile phone prices.
There are also several factors which served to curb the CPI uptrend, including the declining prices in education at 0.25% and transportation at 1.73%.
The GSO also reported that the core inflation recorded in May soared by 0.15% over the previous month and by 2.68% over the same period from last year. On average, core inflation in January to May grew by 2.78% over the same period from last year, lower than the CPI average of 4.03%.
