Five-month CPI falls to five-year record low

Chủ nhật, 30/5/2021| 17:05

Vietnam’s consumer price index (CPI) for the first five months of the year has increased 1.29% compared to the same period last year, a record low figure since 2016, according to the General Statistics Office (GSO).

Announcing major economic indicators in Hanoi on May 29, the GSO said the CPI for May rose 1.43% against December 2020 and 2.9% against May 2020.

But the overall five-month figure fell to as low as 1.29% compared to 1.59% in May 2016, 4.47% in May 2017, 3.01% in May 2018, 2.74% in May 2019 and 4.39% in May 2020.

According to the GSO, the increase in the prices of raw materials, fuel and input materials affected production costs that prompted the prices of consumer goods and services to leap. In addition, an increasing demand for fuel, electricity and water also made a negative impact on the CPI for May.

Five-month CPI falls to five-year record low

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The group of transportation-related commodities obtained the highest price rise of 0.76%, followed by the group of housing and building materials (0.4%), the group of beverage-tobacco, and the group of household utensils (0.09% each).

Meanwhile, the price of food and food services increased by 0.04%, of the education group by 0.03%, and of medicines and medical services by 0.01%.

In contrast, the price of culture, entertainment and tourism services decreased by 0.23%, due to the impact of the COVID-19 pandemic. Similarly, the group of post and telecommunications and garment and leather footwear dipped 0.15% and 0.01% respectively.

The GSO also said that core inflation for May 2021 increased by 0.15% compared to the previous month and by 1.13% over the same period last year.

The five-month core inflation this year rose by 0.82% over the same period in 2020.