May CPI up 0.16%, driven by housing and utility costs

May CPI up 0.16%, driven by housing and utility costs

For the first five months of 2025, the CPI increased by 3.21 per cent from the same period last year, while core inflation went up 3.1 per cent.

Consumers shop at Winmart Võ Thị Sáu in Hai Bà Trưng district, Hà Nội. — VNA/VNS Photo

Việt Nam’s consumer price index (CPI) rose by 0.16 per cent in May compared to April, mainly due to higher costs for rental housing, home maintenance materials, electricity and dining out, the National Statistics Office under the Ministry of Finance has reported.

The May CPI was up 1.53 per cent compared to December 2024, and rose 3.24 per cent year-on-year.

For the first five months of 2025, the index increased by 3.21 per cent from the same period last year, while core inflation went up 3.1 per cent.

Food and catering services rose by 3.83 per cent year-on-year during the five-month period, with pork prices surging by 13.53 per cent due to tight supply and high demand during holidays.

Housing and utility-related prices increased 5.43 per cent, pushing the CPI up by 1.02 percentage points. Rental prices climbed 6.84 per cent, electricity costs up 4.93 per cent, and home maintenance materials up 2.71 per cent.

Healthcare services and pharmaceuticals saw a sharp 14.07 per cent rise, largely driven by an updated pricing circular from the Ministry of Health. Household equipment and appliances witnessed a price hike of 1.58 per cent.

Meanwhile, transport costs dropped by 3.97 per cent, with fuel prices down 13.39 per cent. Postal and telecommunications services also fell slightly by 0.49 per cent, mainly due to lower prices of older-generation mobile phones.

Gold prices soared in line with global trends. Domestically, gold prices in May surged 10.47 per cent month-on-month and nearly 45.95 per cent year-on-year. Over the five months, domestic gold prices surged 35.37 per cent.

The US dollar index fell 0.82 per cent globally as markets expected the US Federal Reserve to cut interest rates. However, in Việt Nam, rising demand for import-export payments pushed the May index up by 0.68 per cent month-on-month, 2.69 per cent year-on-year, and 2.59 per cent compared to December 2024. On average, the US dollar index increased by 3.35 per cent in the first five months.

The core inflation in May rose 0.33 per cent month-on-month and 3.33 per cent year-on-year, said the National Statistics Office. 

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