WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Banking & Finance
Vietnam’s consumer prices declines 0.03% m/m in May
Hai Yen 07:49, 2020/06/01
The consumer prices, however, increased 4.39% year-on-year in the January- May period, the highest five-month growth rate over the last three years.

Vietnam's consumer price index (CPI), the main gauge of inflation, in May saw a slight decline of 0.03% against the previous month, according to the General Statistics Office (GSO). 

 Data: GSO. Chart: Hai Yen. 

The rate declined 1.24% versus the end of 2019, the lowest in the 2016 – 2020 period, but went up 2.4% year-on-year, resulting in an increase of 4.39% year-on-year of the CPI in the first five months of 2020, the highest five-month growth rate over the last three years.

Four out of 11 commodity groups, which are components of the basket for CPI calculation, witnessed month-on-month declines in prices. Among them, transportation posted the sharpest decrease of 2.21%, mainly due to reductions in fuel prices on April 28 and May 15, shaving 0.21 percentage points off the overall CPI.

Other groups that saw their prices down in May were post and telecommunications (-0.02%); culture, entertainment, and tourism (-0.02%); and garment, footwear and hats (-0.01%).

Meanwhile, the seven groups that saw their prices up in May were food and catering services (0.34%); beverages and cigarettes (0.25%); housing, water and electricity supply, and construction materials (0.25%); household equipment and appliances (0.05%); medicine and healthcare services (0.04%); other goods and services (0.07%); only education remained flat.

According to the GSO, core inflation in May went down 0.03% month-on-month, resulting in an increase of 2.54% year-on-year and a rise of 2.88% in the first five months compared to the same period of 2019.

RELATED NEWS
TAG: Vietnam consumer price index CPI covid-19 coronavirus nCoV pandemic living costs inflation gso
Other news
15:44, 2024/11/14
IFC sets record with US$1.6 in climate financing to support Vietnam’s green transition
The new commitments aim to bolster Vietnam's shift towards a low-carbon economy while enhancing private-sector resilience and competitiveness.
21:44, 2024/11/11
Vietnam's credit growth up 10% in 10 months
Vietnam’s central bank has set a credit growth target of around 15% this year.
08:08, 2024/10/05
Building Hanoi's smart city with smart banking
In Hanoi's smart city development strategy, smart payment and open banking ecosystems are critically important.
21:34, 2024/09/19
Vietnam stock market clears major legal hurdle to potential upgrade
Starting November 2, foreign investors will no longer be required to pre-fund 100% of their transactions, promising the removal of a major roadblock for Vietnam's market upgrade process.
17:29, 2024/09/01
Cashless parking in Hanoi: Good model fuels smart transport
Hanoi’s leaders believe that all that's left to do is act with the ultimate goal of serving people from smart transportation, armed with the mindset and solutions of a new global vision and thinking.
22:36, 2024/08/26
Banking sector dominates Vietnam’s corporate bond market
The increase in bank bond issuance is largely driven by the need to comply with the State Bank of Vietnam’s capital adequacy requirements.