Vietnam year-on-year inflation nears 20%
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Vietnam’s consumer price index (CPI) in May surged by 2.21 percent against April, bringing the country’s CPI to 12.07 percent this year - a 19.78 percent rise year on year, according to Vietnam General Statistics Office (GSO).
Of the 11 commodity groups, only the price of posts and telecommunications services saw a month-on-month drop of 1.68 percent.
The sharpest price increase, 3.19 percent, was found in housing and construction materials, including housing, electricity, water, fuel and construction materials.
Prices of food and catering services followed suit with an increase of 3.01 percent from the previous month, of which food surged the strongest - 3.53 percent.
Transportation price continued to hike at 2.67 percent compared with April.
Among the remaining 7 categories, four exceeded and two approached the 1 percent increase.
Not included in the basket of the consumer price index, gold price index had an increase of 1.43 percent while the US dollar price index was down 0.98 percent compared with April.
In terms of locations, the Mekong Delta’s Can Tho City saw the highest CPI increase of 2.35 percent, followed by HCMC (2.38 percent) and Hai Phong City (1.97 percent).
Vietnam has yet to revise its inflation target in 2011 which was set at 7 percent at the beginning of this year.
