The supply shortage of pork meat following the outbreak of African swine fever at the end of 2023 pushed its price up, whilst a spell of hot weather also contributed to pulling the CPI up during this period.

The May CPI increased by 1.24% compared to December, 2023, and by 4.44% from the same period last year.

The average CPI recorded in the first five months of the year rose by 4.03% over the same period from last year.

Among the 11 main groups of consumer goods and services, a total of seven saw price hikes compared to the previous month, while three groups endured a price decline.

Some commodities and services which saw price increases include food and catering services at 0.38%, housing and building materials at 0.38%, culture-entertainment-tourism services at 0.31%, beverages and tobaccos at 0.14%, and household appliances at 0.12%.

The three groups of goods and services witnessing falls in prices consisted of postal and telecommunications services which declined by 0.09% as a result of lower mobile phone prices.

There are also several factors which served to curb the CPI uptrend, including the declining prices in education at 0.25% and transportation at 1.73%.

The GSO also reported that the core inflation recorded in May soared by 0.15% over the previous month and by 2.68% over the same period from last year. On average, core inflation in January to May grew by 2.78% over the same period from last year, lower than the CPI average of 4.03%.

VOV