CPI up 0.18% in May

VGP - The Consumer Price Index (CPI) in May rose only 0.18%, raising the total hike in the first 5 months of this year to 2.78%, according to the General Statistics Office.

May 25, 2012 8:12 AM GMT+7

May’s CPI increased only 8.34% against last May, standing at one-digit rate for the first time since November 2010.

Among 11 groups of goods used to calculate the CPI, 7 groups have price hikes above the average index. Restaurant services price dropped 0.14% against April. Specifically, food and foodstuff dipped 0.54% and 0.26%, respectively.

Amid petrol price hikes, transport costs increased 1.32%, and housing and construction material prices dropped 0.07% in May.

CPI has declined since mid-2011 and sharply fallen in recent months. CPI increased 1% in January, 1.37% in February, 0.16% in March and 0.05% in April. The index in the first 4 months of this year only upped 2.6%, much lower than the same period of previous years.

The country is striving to curb inflation rate at 8-9% this year.

By Ngoc Van