In 5 months, the average CPI of the whole country increased by 2.25%

The General Statistics Office said, gasoline prices domestic prices increase according to world prices; The price of food, foodstuffs, the price of essential consumer goods and services increase in line with the price of input materials, which are the main causes of Consumer price index (CPI) in May 2022 increased by 0.38% compared to the previous month; increased by 2.48% compared to December 2021 and increased by 2.86% over the same period last year.

On average, in the first 5 months of this year, CPI increased by 2.25% over the same period last year, higher than the increase of 1.29% in the first 5 months of 2021; Core inflation increased by 1.1%.

Compared to the previous month, CPI in May 2022 increased by 0.38%; in which, the urban area increased by 0.34%; rural areas increased 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.

The General Statistics Office pointed out the factors that increase CPI in the first 5 months of 2022, which are: The price of gasoline was adjusted 13 times, making the price of A95 gasoline 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, the gas price in the first 5 months of the year 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.

People shopping at a supermarket. Photo: Tran Viet.

In addition, 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, affecting the overall CPI increase. 0.17 percentage points.

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.

Besides the reasons for increasing CPI, there are a number of reasons to decrease CPI in the first 5 months of 2022 such as: The price of food products in the first 5 months of the year decreased by 0.73% compared to the same period last year, causing the CPI to decrease. 0.16 percentage points; in which the price of pork decreased by 20.8%; processed meat prices fell 4.23%.

The price of educational services decreased by 3.71% because some provinces and centrally-run cities exempted and reduced tuition fees from the first semester of the school year 2021-2022 due to the impact of the COVID-19 epidemic, causing the overall CPI to decrease by 0.2 percent score. Post and telecommunications prices decreased by 0.56% y/y due to lower mobile phone prices.

Also in May, the domestic gold price fluctuated in the same direction as the world gold price. As of May 25, 2022, the average world gold price stood at $1,845 per ounce, down 4.6% compared to April 2022 due to a stronger dollar and rising bond yields, reducing the attractiveness of gold. lead of gold. Domestically, the gold price index in May 2022 decreased by 0.52% compared to the previous month; an increase of 9.86% over the same period in 2021; average increase in the first 5 months of 2022 by 6.48%.

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