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Vietnam: CPI growth in Jan-May lowest in five years

  • Jun 04, 2021

The country’s consumer price index (CPI) in the first five months of the year grew 1.29% year-on-year, the lowest for the period since 2016, according to the General Statistics Office.

In May alone, the CPI inched up 0.16% over the previous month and 2.9% against the same period last year, also the lowest for the month over the past five years.

In the January-May period, the core inflation, which excludes the prices of fresh food, energy and State-controlled healthcare and education services, edged up 0.82% versus the year-ago period.

The core inflation growth was lower than the CPI growth, proving that the CPI growth was mainly caused by an increase in the prices of fuels and gas.

The statistics on the country’s socioeconomic performance in May and the January-May period of this year released by the General Statistics Office:

TOTAL RETAIL SALES OF GOODS AND SERVICES IN THE FIRST FIVE MONTHS OF 2021

Retail sales of goods: VND1,670.3 trillion, up 7.8%

Lodging, catering: VND196.9 trillion, up 4.6%

Traveling: VND4.3 trillion, down 48.2%

Other services: VND214.6 trillion, up 10.9%

Total: VND2,086.1 trillion, up 7.6%

IMPORTS-EXPORTS IN THE FIRST FIVE MONTHS OF 2021

Exports: US$130.94 billion, up 30.7%

Imports: US$131.31 billion, up 36.4%

TRADE DEFICIT: US$369 million

PRICE INDEX

100.16% in May 2021 against previous month

102.9% in May 2021 over May 2020

101.29%: Average in Jan-May 2021 over Jan-May 2020

119.24%: Average gold price index growth in Jan-May 2021 over the year-ago period

99.15%: Average U.S. dollar price index growth in Jan-May 2021 over the year-ago period

INDUSTRIAL PRODUCTION IN JAN-MAY 2021

The rising/falling rate of the index of industrial production over year-ago period

Mining: down 7.0%

Processing, manufacturing: up 12.6%

Electricity production and distribution: up 8.3%

Water supply, waste and wastewater management and treatment: up 7.5%

The whole industry sector: up 9.9%

Increasing/falling rate of some key industrial products

Phone accessories: up 36.4%

Mobile phones: up 22.2%

Footwear: up 12.6%

Electricity for production: up 8.5%

Pure coal: down 3.7%

Crude oil: down 9.5%

BUSINESS REGISTRATION IN JAN-MAY 2021

Newly-established enterprises: 55,767

Enterprises resuming operations: 22,564

Dissolved enterprises: 8,023

Enterprises with temporary suspension: 31,818

SGT