Gasoline price has increased by more than 7,000 VND/liter since the beginning of the year, pushing CPI up

According to data from the General Statistics Office, compared to the previous month, CPI in May increased by 0.38% (in urban areas by 0.34%; in rural areas by 0.42%). Among 11 main groups of consumer goods and services, 10 groups of goods increased in price compared to the previous month; 1 group of discounted goods.

In which, the traffic group increased the most by 2.34% compared to the previous month, causing the general CPI to increase by 0.23 percentage points, mainly due to the influence of the adjustments. gas price oil according to world fuel prices on 4/5, 11/5 and 23/5. Consecutive adjustments pulled gasoline prices up by 5.93%; diesel oil price increased by 3.99%. Prices of public transport services also increased by 1.06% month-on-month due to higher fuel prices.

On average, in the first 5 months of the year, CPI increased by 2.25% over the same period in 2021.

The General Statistics Office pointed out a number of reasons for the increase in CPI in the first 5 months of the year. In which, petroleum is still the first factor mentioned. Since the beginning of the year, gasoline prices have been adjusted 13 times, making A95 gasoline prices increase by 7,360 VND/liter; E5 gasoline increased by 7,080 VND/liter and diesel oil by 7,980 VND/liter.

On average, in the first 5 months of the year, domestic gasoline prices increased by 49.95% over the same period last year, causing the overall CPI to increase by 1.8 percentage points.

Besides, the domestic gas price fluctuates according to the world gas price, gas price in the first 5 months increased by 26.67% over the same period last year, contributing to the overall CPI increase of 0.39 percentage points.

The COVID-19 epidemic has been controlled, the demand for eating out of restaurants has increased, so the average price of eating out in the first 5 months of this year increased by 3.31% over the same period last year, causing the overall CPI to increase by 0.28 points. percent.

The price of housing maintenance materials in 5 months increased by 8.28% compared to the same period last year due to the increase in cement, iron, steel and sand prices in line with the price of input materials, causing the overall CPI to increase by 0.17 points. percent.

The increase in domestic rice prices in line with export prices and the high demand for glutinous rice and delicious rice during the Lunar New Year made rice prices in the first 5 months of 2022 increase by 1% over the same period last year, making the overall CPI increase. increased by 0.03 percentage points.

According to the General Statistics Office, core inflation in May 2022 increased by 0.29% over the previous month, up 1.61% over the same period last year. On average, in the first 5 months of the year, core inflation increased by 1.1% over the same period in 2021, lower than the overall average CPI (up by 2.25%). This reflects fluctuations in consumer prices mainly driven by food and petrol prices