Why did CPI in May increase by 0.16% compared to the previous month?

The General Statistics Office ( Ministry of Finance ) has just announced the socio-economic report for April and 4 months. The consumer price index (CPI) in May increased by 0.16% compared to the previous month, mainly due to the increase in the prices of house rent, housing maintenance materials, electricity and eating out.

CPI in May increased by 1.53% compared to December 2024; increased by 3.12% compared to the same period last year. On average, CPI in the past 4 months increased by 3.24% compared to the same period last year.

In the CPI increase in May this year compared to the previous month, there were 10 groups of goods and services with increased price indexes; only the price index of the transportation group decreased.

The housing, electricity, water, fuel and construction materials group increased by 0.73% (increasing the overall CPI by 0.14 percentage points), mainly due to price increases in the following items: Prices of housing maintenance materials increased by 1.20%; house rental prices increased by 0.64%; household electricity prices increased by 0.84%; household water prices increased by 1.0%. In contrast, kerosene prices decreased by 3.09% due to the impact of price adjustments during the month.

The group of other goods and services increased by 0.43%, mainly concentrated in some items: Jewelry group increased by 10.64% according to domestic and world gold prices; body care products increased by 0.52%; handbags, suitcases, wallets increased by 0.48%; watch and jewelry repair increased by 0.40%; wedding services increased by 0.17%.

Vì sao CPI tháng 5 tăng 0,16% so với tháng trước? - 1 — Housing, electricity, water, fuel and construction materials group increased by 0.73% (Photo: Manh Quan).

The culture, entertainment and tourism group increased by 0.28%. Of which, package tourism increased by 1.09% (domestic tourism increased by 1.24%; international tourism increased by 0.67%) due to the strong increase in tourism demand during the holidays and preparation for the peak summer season; hotels increased by 1.36%; guest houses increased by 0.50%; sports venue rental tickets increased by 0.51%; sports equipment increased by 0.15%. On the contrary, prices of ornamental plants and flowers decreased by 1.61%; musical instruments decreased by 0.02%.

The post and telecommunications group increased by 0.21%. Of which, the price of regular mobile phones increased by 0.68%; accessories for smart phones and tablets increased by 0.51%; smart phones and tablets increased by 0.28%; phone repairs increased by 0.31% due to the increased demand for purchasing technology equipment following promotional stimulus programs; labor costs and replacement parts prices increased.

The group of household appliances and equipment increased by 0.19%. Of which, washing machine repair increased by 0.64%; air conditioner repair increased by 0.40%; refrigerator repair increased by 0.37% due to the beginning of the hot season, while the cost of components and maintenance services also increased. The price of hot water bottles increased by 0.48%; bath soap, shower gel and shampoo also increased by 0.45%; plastic utensils increased by 0.39%; electric fans increased by 0.36%.

The beverage and tobacco group increased by 0.14% due to increased production costs and consumer demand, of which carbonated soft drinks increased by 0.49%; bottled, canned, and boxed energy drinks increased by 0.17%. Prices of cigarettes and beer of all kinds increased by 0.18% and 0.10% respectively compared to the previous month.

The group of garments, hats, and footwear increased by 0.05%. Of which, the price index of footwear services increased by 0.40%; hats, caps, and raincoats increased by 0.52%; garment services increased by 0.33%; fabrics of all kinds increased by 0.12%; other garments such as gloves and socks of all kinds increased by 0.04%.

The food and catering services group increased by 0.03%, of which: Food decreased by 0.18%; food decreased by 0.04%; eating out increased by 0.28%.

The group of medicines and medical services increased by 0.02%, mainly in the group of medical equipment such as fever-reducing bags, blood pressure monitors, medical cotton/bandages... increased by 0.25% due to increased production costs and people's health care needs. Prices of pain relievers, fever reducers, non-steroidal anti-inflammatory drugs and drugs for gout and bone diseases increased by 0.18%; anti-allergy drugs and hypersensitivity drugs increased by 0.15%; and drugs affecting the respiratory tract increased by 0.11%.

The education group increased by 0.01%, of which stationery prices increased by 0.12%, specifically: Pens of all kinds increased by 0.24%; stationery and other school supplies increased by 0.17%; paper products increased by 0.11%.

On the other hand, the transportation group decreased by 0.42%, mainly due to the diesel price index, down 2.33%; the gasoline price index decreased by 1.20% due to the impact of domestic gasoline price adjustments following world gasoline prices.

Meanwhile, some commodity groups increased in price: Vehicle maintenance group price increased by 0.36%; passenger transport price by waterway increased by 0.89%; passenger transport by bus increased by 0.22%; passenger transport by road increased by 0.16%; car wash and tire pumping service price increased by 0.24%; spare parts group price increased by 0.25%.

Core inflation in May increased by 0.33% compared to the previous month and by 3.33% compared to the same period last year. On average, over the past 5 months, core inflation increased by 3.10% compared to the same period last year, lower than the 3.21% increase of the average CPI, mainly due to the prices of food, foodstuffs, electricity, and medical services, which are factors that increase the CPI but are excluded from the list of core inflation calculations.

Source: https://dantri.com.vn/kinh-doanh/vi-sao-cpi-thang-5-tang-016-so-voi-thang-truoc-20250606140954146.htm