May’s consumer price index (CPI) in both Ho Chi Minh City and Hanoi declined by 0.16% and 0.22 % respectively from the levels of the previous month.
This is the third successive month the CPI has tumbled in the two cities.
Food and drink prices in Ho Chi Minh City, especially in relation to eating out, increased slightly, while culture, entertainment, and tourism services saw moderate declines of 0.09%. Healthcare prices also slipped down by 0.02%.
Hanoi’s transportation costs saw the highest decrease of 0.78%, followed by food and drink (down by 0.49%), postage and telecommunications (down by 0.3%), and restaurants, utilities, and building materials (down by 0.04%).
Hanoi Statistics Office Head Cong Xuan Mui said the CPI’s decline in the capital city can be credited to low consumer demand in spite of the month’s long holiday.
April’s three consecutive petrol price cuts also contributed to the CPI’s downward trend.