Electricity prices pushed up the CPI in May.

The Consumer Price Index (CPI) in May increased by 0.29% compared to the previous month due to rising electricity and gasoline prices. Photo: Le Hieu .

According to a report by the General Statistics Office ( Ministry of Finance ), the Consumer Price Index (CPI) in May increased by 0.29% compared to the previous month due to rising electricity and water prices, coupled with high demand during hot weather; simultaneously, prices of construction materials, rental housing, and gasoline also increased. Compared to December 2025, this index increased by 3.61% and by 5.6% compared to the same period last year. Overall, in the first five months of the year, the CPI increased by 4.31% compared to the same period last year.

Of the 0.29% increase in the CPI in May compared to the previous month, 10 commodity groups saw price increases, while the price index for food and food services decreased.

Notably, the housing, utilities, fuel, and construction materials group saw the strongest increase at 0.96%, with rent rising by 0.71%. Within this group, home repair services increased by 0.69%; home maintenance materials increased by 0.81%; electricity prices rose by 2.38%; and water prices increased by 1.41%. Conversely, gas prices decreased by 1.5% in line with world prices, contributing to a 0.02 percentage point decrease in the overall CPI.

Next, the transportation group increased by 0.83%, mainly due to a 2.12% increase in gasoline prices; a 0.82% increase in driving license training fees; a 0.68% increase in toll fees; a 0.46% increase in self-drive car and motorbike rental services; and a 0.07% increase in parking services.

The beverages and tobacco group increased by 0.21% due to rising import, production, and distribution costs. Within this group, the tobacco price index increased by 0.47%; and the price of alcoholic beverages increased by 0.18%.

The household appliances and equipment group increased by 0.17% due to rising raw material, labor, and transportation costs. Some items that saw price increases included lighting fixtures, air conditioners, and electric fans. Conversely, prices of bathroom water heaters, blenders, and juicers decreased due to promotional programs offered by some manufacturers.

The group of medicines and medical services increased by 0.1% in May, mainly due to hot weather and increased demand for medicines. The education group increased due to rising prices of pens, stationery and other school supplies, and paper products.

Specifically, the food and beverage group decreased by 0.14%, contributing to a 0.05 percentage point decrease in the overall CPI. Within this group, food prices decreased by 0.68%; other food items decreased by 0.25%; while eating out increased by 0.36%.

According to the General Statistics Office, the core inflation index in May increased by 0.34% compared to the previous month and by 4.67% compared to the same period last year. On average for the first five months of the year, core inflation increased by 4.04% compared to the same period last year, lower than the 4.31% increase in the overall CPI. This development is due to significant fluctuations in gasoline, gas, and food prices, which contributed to the overall CPI increase, while these factors are excluded from the calculation of core inflation.

Also in May, world gold prices fell due to profit-taking after a period of sharp increases and a more stable market sentiment, thereby reducing the demand for safe-haven assets.

Domestically, the gold price index in May decreased by 4.11% compared to the previous month, mainly due to gold prices being adjusted downward by businesses in line with world gold prices. However, compared to the same period last year, the gold price index is still 33.87% higher; compared to December 2025, the increase is 6.27%. On average over the first five months compared to the same period last year, the gold price index increased by 65.97%.