In May 2023, the consumer price index (CPI) for Vietnam climbed by 2.43 percent year over year (YoY), whereas it increased by 0.40 percent when compared to December 2022. The CPI increased by an average of 3.55 percent for the first five months of this year compared to the same time last year.
The General Statistics Office (GSO) reports that the YoY increase in CPI has been on the decline from the year’s beginning, with percentages gradually dropping from 4.89% in January to 2.43% in May.
The analysis also identified factors that were pressuring the CPI downward, such as falling gasoline prices. Core inflation in May increased by 0.27 percent from April and was 4.54 percent higher than in May of last year. last year. Notably, the average core inflation during the first five months of this year saw an uptick of 4.83 per cent compared to the same period last year, outpacing the overall CPI growth rate of 3.55 per cent.
