CPI keeps rising throughout Vietnam

The consumer price index (CPI) for May showed continued growth in Hanoi and Ho Chi Minh City, reported the cities' statistics offices.

The Hanoi’s CPI for May increased 0.12%.
The Hanoi’s CPI for May increased 0.12%.

The Hanoi Statistics Office announced on May 21 that the capital city's CPI showed a month-on-month increase of 0.12% over April and a year-on-year surge of 0.93%.

The office said the increase was mainly due to a surge in petrol prices since May 5 that pushed many commodity prices up, especially transport items, which jumped 1.06% since last month.

Housing, electricity, tap water, fuel and building materials jumped 1.44% in the last month because of the rising price and demand for electricity and tap water in the summer, the office said.

Other goods also showed growth - 0.47% for drink and tobacco; 0.3% for garments, hats and footwear; and 0.28% for cultural, entertainment and tourism services.

Only restaurant and catering services had a price reduction, down 0.43% compared to April.

In contrast to the CPI, the price of gold in Hanoi continued its decline, dropping0.13% in the last month, and the price of the US dollar went up 0.44% against last month.

The Ho Chi Minh City Statistics Office said the city's CPI only had a slight increase of 0.3% over April.

Goods with price growth included garments, hat and footwear up 0.1%; home appliances up 0.02%; transport services up 1.05%; and cultural, entertainment and tourism services up 0.07%.

Housing, electricity, tap water and fuel jumped 2.18% against last month because of the new electricity rates and increase in demand due to the hot summer weather.

Some goods items reduced in price. Like Hanoi, restaurant and catering services went down 0.06%, postal and telecom services declined 0.02%, and the other-goods and services group fell 0.04%.

Of note, rice continued its decline falling0.13% and general food products went down 0.13%.

In Ho Chi Minh City, the price of gold also dropped 0.4%.