Hanoi (VNA) - Hanoi’s Consuꦰmer Price Index (CPI) in May rose slightly by 0.14% from the previous month, pushing the increase to 1.28% compared to last December and 3.6% year-on-year.
On average, the CPI over the first five months climbed 3.03% year-on-year, reflecting a stable and well-controlled upward trend in prices.
In May, prices rose slightly in 8 out of 11 major groups of goods and services recorded slight increases.
The group of housing, electricity, water, fuel, and construction materials posted the sharpest increase, by 0.88%, contributing 0.18% to the CPI expansion.
Rental prices rose by 1.3%, while the cost of housing maintenance materials increased by 0.29%.
The culture, entertainment, and tourism group rose by 0.34%, reflecting vibrant travel activities during the month. Meanwhile, the transportation group fell by 0.27% due to declines in petrol and diesel prices, helping to curb the CPI.
Gold prices surged in May, climbing 10.85% from the previous month and 56.54% year-on-year. The gold price index rose by 43.35% during January–May compared to the same period last year.
The US dollar price index went up 0.67% month-on-month and 3.41% year-on-year.
In addition to traditional factors, the strong growth of tourism activities in May positively contributed to overall economic growth and market stability./.
Major contributors to the four-month CPI hike included food and catering services, which rose by 3.86% year-on-year and contributed 1.3 percentage points to the overall CPI growth, according to the National Statistics Office.
In response to these trends, economic experts have recommended Hanoi to implement a range of measures to manage inflation in the coming months. They emphasised the need to strengthen price monitoring of essential goods, particularly food, fuel, pharmaceuticals, and healthcare services.
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