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Consumer price in Vietnam rises by 2.25% in five months

This year, Vietnam’s consumer price index (CPI) in May increased by 0.38 percent compared to the previous month’s figure, according to the general statistics office.

vietnam consumers
Figure: Last five month industrial production index increased by 8.3 percent over the same period last year.

For the rising price of gasoline, the average CPI in the first five months of the year increased by 2.25 percent compared to the same period last year, also higher than the increase of 1.29 percent in the first five months of 2021.

According to Vietnam economic analysts, in less than half a year, the average CPI has been 2.25 percent, and while the uptrend is still continuing, the target threshold of 4 percent requires close management efforts.

Also, forecasts of international organizations suggested that Vietnam’s inflation in 2022 will be around 3.8-4 percent.

Specifically, according to May’s statistics, among 11 main groups of consumer goods and services and 10 groups of goods increased in price compared to the previous month but there only one group of products was discounted.

On the other hand, localities with a large industrial scale have positive growth trends, such as the Southern Province of Binh Duong with an increase of 9 percent, where the Central Province of Ha Tinh increased by 6.9 percent.

Besides, Ho Chi Minh City increased by 6.5 percent, the northern provinces of Hai Duong, Thai Nguyen and Quang Ninh increased by 3.6 percent, 3 per cent and 2.3 percent respectively, the Mekong Delta provinces of Vinh Long and Long An increased by 3.4 percent and 2.7 percent respectively.

For this year, last five month industrial production index increased by 8.3 percent over the same period last year.

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