Vietnam’s consumer price index in May is estimated to have risen 0.44 per cent on month and softened to 5.58 per cent on year thanks to the government’s demand stimulus packages, the General Statistic Office said on May 25.
Economists said rises of CPI in the first five months reflect recovery of the domestic demand and ease concerns over “deflation threats.”
Food and food services prices are expected to have been down 0.18 per cent on month, but still up 6.5 per cent on year. Rice is expected to have been down 0.37 per cent on month and down 4.7 per cent on year while foodstuff up 0.36 per cent on month and up 8.65 per cent on year.
Transportation and post costs have been up 1.8 per cent on month and down 5.13 per cent on year.
Housing and construction materials costs are estimated to have increased 0.97 per cent on month and 0.7 per cent on year.
Apparels, footwear and hat are estimated to have soared 0.26 per cent on month and risen 9.57 per cent on year. Drinks and tobacco increased 0.31 per cent on month and 9.71 per cent on year. Medicines are to have been up 0.18 per cent on month and up 7.69 per cent on year.
Cultural, sports and recreation services are estimated to have been down 0.03 per cent on month but up 6.1 per cent on year. Domestic appliances prices have been up 0.51 per cent on month and 9.88 per cent on year.
The government usually issues CPI figures based on estimates before the end of the reporting period.
The CPI rise in the month is attributed to salary and retail gasoline prices; however, it was up 11.59 per cent between January and May, compared with that in Jan-May last year, economists commented.
In Vietnam, gold is estimated to have risen 0.61 per cent on month and 13.04 per cent on year while the U.S. dollar is estimate to have strengthened against Vietnam dong 1.25 per cent on month and up 11.46 per cent on year.
In urban areas in Vietnam, CPI is estimated to have risen 0.51 per cent on month and 6.35 per cent on year while CPI in rural regions was up 0.38 per cent on month and up 5 per cent on year. (GSO May 2009)
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