Vietnam’s May CPI accelerates to+0.18%: GSO
Vietnam consumer price index (CPI) in May is estimated to have increased by +0.18% from April mostly thanks to rise in prices of traffic and other goods and services, the General Statistics Office said on its website on May 24th.
This month’s CPI has increased back after two months of slowdown, the data showed. However, May’s CPI still posted the lowest on-month rise compared with May’s CPI in the past 6 years, according to data compiled by StoxPlus.
May increase extended the figure to +2.78% from December 2011 and +8.34% from May 2011.
As many as 8 out of the 11 baskets of goods contributed to the calculation of the CPI data saw their prices rise this month.
Prices of other goods and services recorded the biggest increase of 3.09% on-month, followed by
prices of traffic basket which posted 1.32% increase.
Prices of culture. entertainment and tourism increased 0.63%; prices of garment. footwear. hat increased 0.58%; prices of household appliances and goods were up 0.57%; prices of beverage and cigarette rose 0.43%; prices of medicine and health care increased 0.33%; prices of education which were up 0.07%.
Price of postal services and telecommunication basket remained unchanged this month.
In the down side, prices of housing and construction materials (including rent, electricity, water, water, fuel and construction materials) showed the highest drop with 0.97%. Prices food and food stuff posted a fall of 0.14%. (In which, prices of food plunged by 0.54%; foodstuff prices fell by 0.26% but eating outside prices rose by 0.66%).
Not included in the CPI components, gold prices in May dropped by 2.17% on month, fell by 5.6% from December 2011 but still soared by 11.78% on year.
U.S. dollar in May prices edged up by 0.06% on-month, fell by 1% from December 2011 and rose 0.19% on-year.
Earlier, Hanoi posted its May CPI’s increase of +0.16% on month, +2.75% from December 2011 and +7.8% on year.
Ho Chi Minh city posted its May CPI’s increase of +0.06% on month, +2.49% from December 2011 and +7.2% on year.
There is no worries about inflation fluctuation this year, Vietnam can still meets its target of curbing inflation under 10% in 2012, Vo Tri Thanh, deputy CEO of Central Institute for Economic Management (CIEM) said at the conference on Vietnam’s Economy in Q1/2012 and direction for the rest of the year held on April 21.
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Tags: Vietnam CPI, Vietnam CPI 2012, Vietnam economic news, Vietnam economy, Vietnam economy 2012