Inflation in the first five months rose 4.31%, nearing the target ceiling.

Rising electricity, fuel, and rental prices pushed the consumer price index (CPI) up 0.29% in May. On average, the CPI increased by 4.31% in the first five months of the year compared to the same period last year.

On June 3rd, the General Statistics Office ( Ministry of Finance ) announced that the consumer price index (CPI) in May increased by 0.29% compared to the previous month, mainly due to increases in electricity prices, gasoline, and rent. On average, the CPI for the first five months of the year increased by 4.31% compared to the same period last year, nearing the government's inflation control target of around 4.5% for 2026.

Of the 0.29% increase in the CPI in May, 10 groups saw price increases, while the food and beverage group experienced a decrease.

The housing, utilities, fuel, and building materials group saw the strongest increase at 0.96%, contributing 0.22 percentage points to the overall CPI increase. Electricity prices rose by 2.38%, water prices by 1.41%, rent by 0.71%, and home maintenance materials by 0.81%. Conversely, gas prices decreased by 1.5%, following global price trends.

Rising electricity, fuel, and rental prices pushed the consumer price index (CPI) up 0.29% in May. Photo: Anh Nguyen

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The transportation group increased by 0.83%, contributing 0.08 percentage points to the overall CPI increase. Gasoline prices rose by 2.12%, while vehicle maintenance costs, driving school fees, and toll fees also increased. However, diesel prices fell sharply by 16.42% and public transport fares decreased by 1.47%.

Tourism service prices continued to rise during the peak summer season, contributing to a 0.48% increase in the culture, entertainment, and tourism group. Specifically, package tour prices increased by 1.19%, and hotel and guesthouse prices increased by 0.66%.

Several other product groups also recorded slight increases, such as beverages and tobacco (up 0.21%); household equipment and appliances (up 0.17%); clothing and footwear (up 0.13%); and medicines and medical services (up 0.1%).

Notably, the food and beverage group decreased by 0.14%, contributing to a 0.05 percentage point decrease in the overall CPI. Food prices decreased by 0.68%, processed foods decreased by 0.25%, while dining out services increased by 0.36%.

Overall, in the first five months of the year, the CPI increased by 4.31% compared to the same period in 2015. Of these, the housing, electricity, water, and construction materials group saw the strongest increase at 6.64%; transportation increased by 5.22%, and food and beverage services increased by 4.77%.

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Core inflation 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%, lower than the overall CPI increase.

Budget revenue in the first five months of the year reached over 1.3 trillion VND, equivalent to 53% of the projected figure for the first five months. State budget revenue reached over 1.3 trillion VND, an increase of 15.4% compared to the same period last year, while budget expenditure reached approximately 845,000 billion VND.

Source: https://vietnamnet.vn/lam-phat-5-thang-dau-nam-tang-4-31-gia-dien-va-xang-dau-tiep-tuc-gay-suc-ep-2522300.html