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Tuesday, July 23, 2024

Ten commodities groups push CPI in May up 0.38%

By Van Phong

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HCMC – A hike in prices of fuels, food and foodstuffs, and necessities has resulted in Vietnam’s consumer price index (CPI) this month rising by 0.38% month-on-month, according to the General Statistics Office.

Among the 11 main commodity groups, up to 10 groups marked a month-on-month increase in prices, and one registered a decline.

Due to two upward fuel price adjustments by 5.93% and 3.99% in May, respectively, transport services saw the highest increase in prices of 2.34%.

The largest contributor to the overall index is the group of food and catering services, which recorded a month-on-month rise of 0.27%.

Beverages and tobacco also picked up due to rising input materials and transport costs.

Cultural, entertainment and tourism services inched up 0.74% as prices of package tours and hospitality services went up by 3.15% and 0.94%, respectively, given travel demand bouncing back.

In the year to May, CPI rose 2.25% against the 2021 figure but remained lower than the same period between 2017 and 2020. As for core inflation, which excludes prices of fresh food, energy and State-controlled healthcare and education services, it edged up 1.1%.

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