This is the first timesince May 2003 that the CPI of May has decreased from the previousmonth. However, the index reflected an increase of 6.36 percent year onyear, said the office.
Four out of 11 commoditygroups used to calculate the CPI are reported to see price decreasesfrom 0.07 percent to 0.57 percent, with transport services posting thestrongest drop, while the post and telecommunications group registeringthe smallest reduction.
GSO officials said despite along holiday on the occasion of the national re-unificationanniversary (April 30) and May Day, the May CPI was dragged downby the declining prices of essential goods, including the petrol pricecuts on April 18 and 24 as well as dropping LPG (Liquefied PetroleumGas) prices. In addition, weak demands for food and foodstuff whichaccounts for a majority of the commodity basket while supply is abundantalso pushed the CPI down.
Not included in the CPIbasket, gold price dropped by 4.62 percent in May as a result ofdownward world trend and the State Bank’s gold bars sales. Meanwhile,the US dollar stayed stable at 20,828 VND on the inter-bank market,while it fetched an average 21,190 VND in the unofficial market, up by0.21 percent over the previous month.-VNA
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