Electricity, water, and fuel prices pushed the CPI up by 0.29% in May.

Increased demand for electricity and water, along with rising prices of gasoline, construction materials, and rental housing, caused the CPI to increase by 0.29% in May 2026, while the food and beverage group saw a price decrease.

According to the General Statistics Office ( Ministry of Finance ), the consumer price index (CPI) in May 2026 recorded an increase of 0.29% compared to the previous month. For the first five months of 2026, the CPI increased by 4.31% compared to the same period last year.

CPI increase/decrease rate in May 2026 compared to the previous month. Source: General Statistics Office.

Out of 11 main consumer goods and services groups, 10 recorded price increases compared to the previous month. Leading the increase was the housing, electricity, water, fuel, and construction materials group with a 0.96% increase, contributing 0.22 percentage points to the overall CPI. Specifically, the hot weather caused a surge in household electricity prices by 2.38% and household water prices by 1.41%.

Additionally, increased demand for renovations led to a 0.71% increase in rent, a 0.69% increase in home repair services, and a 0.81% increase in home maintenance materials. Conversely, a 1.5% decrease in gas prices, following global trends, helped to somewhat curb the overall increase.

The transportation group increased by 0.83% (contributing 0.08 percentage points to the overall CPI increase), mainly due to a 2.12% rise in gasoline prices. Other expenses such as vehicle maintenance (+0.59%), driver's license fees (+0.82%), and toll fees (+0.68%) all increased. Conversely, diesel prices fell sharply by 16.42% and public transport services decreased by 1.47%.

The demand for summer cooling also boosted the culture, entertainment, and tourism sector, increasing by 0.48%. Package tour prices rose by 1.19% (domestic tours increased by 1.35%, international tours by 0.27%) due to rising travel and accommodation costs. Beverages and tobacco (+0.21%), and household equipment and supplies (+0.17%) also saw slight increases due to pressure from rising raw material, labor, and transportation costs. Notably, demand for cooling equipment such as air conditioners increased by 0.50%, and electric fans by 0.35%.

The remaining groups, such as other goods and services (+0.14%), clothing - hats - footwear (+0.13%), medicine and medical services (+0.10%), information and communication (+0.04%), and education (+0.03%), recorded slight fluctuations. Notably, in the healthcare group, the hot weather increased the demand for painkillers, fever reducers (+0.64%), and respiratory medications (+0.42%).

As the only group to see a price decrease this month, the food and beverage group fell by 0.14%, contributing to a 0.05% reduction in the overall CPI. This cooling was mainly due to a 0.68% decrease in staple foods and a 0.25% decrease in other food items. Despite this, the out-of-home dining segment maintained a 0.36% increase.

Compared to December 2025, the CPI in May increased by 3.61% and by 5.60% year-on-year. On average for the first five months of 2026, the housing, electricity, water, fuel, and construction materials group saw the highest increase at 6.64%, followed by transportation at 5.22% and food and beverage services at 4.77%.

Regarding core inflation, this index increased by 0.34% in May compared to the previous month and by 4.67% compared to the same period last year. For the first five months of 2026, core inflation increased by 4.04%, lower than the overall CPI increase (4.31%). This is because core inflation excludes significant fluctuations in energy prices (gasoline, oil, gas) and food.

Source: https://hanoimoi.vn/dien-nuoc-xang-dau-day-cpi-thang-5-tang-0-29-1131103.html