Price index declines 0.53% in May

The Consumer Price Index (CPI) in May 2017 dropped 0.53% from a year earlier, reported the General Statistics Office (GSO).

The May CPI rise is the lowest rate over the past ten months. (Photo: VNA)

Specifically, four out of 11 commodities and services with price reduction from the previous month were restaurant and catering services (1.43%), transport (0.34%) due to adjustment of petrol and oil prices on May 5th and May 20th, post and telecom (0.05%), and housing and building materials (0.02%).

The remaining commodities and services groups with slight CPI rise included culture, entertainment and tourism (0.13%), equipment and household appliances (0.1%), beverage and cigarette (0.08%), apparel, hats and footwear (0.05%), medicine and health services (0.04%), education (0.02%), and other commodities and services (0.15%).

However, May CPI still rose 0.37% compared to December 2016 and 3.19% against the same period last year. Over the past five months, the index increased 4.47% year on year.

According to GSO, basic inflation in May 2017 (excluding food, fresh foodstuff, energy and commodities managed by the State like health and education services) only rose 0.08% from the previous month, or 1.33% over a year earlier.

This is the lowest price increase over the past ten years. Averaging the first five months, the basic inflation was 1.56%, lower than the planned rate of 1.6%-1/8%; showing the stable management of monetary policy./.


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