Vietnam's consumer price index to increase 0.16% in May

Vietnam's consumer price index (CPI) in May is expected to increase 0.16 percent over that in April, according to the General Statistics Offices (GSO) on Sunday.

The May CPI figure is likely to post an year-on-year surge of 0. 95 percent, the GSO said on its website. Compared to December 2014, the country's May CPI is forecast to go up by 0.2 percent.

The rise in May's CPI is mainly attributed to the recent hike in prices of petroleum and electricity, which makes price index of transport group in May increase by 1.02 percent, and group of housing (including fee of rent, electricity, water, fuel) and construction material rise by 1.27 percent over April.

Among the 11 commodities in the CPI basket, only the group of food and foodstuff is likely to see price reduction of 0.22 percent in May compared to April, while price of education remains unchanged.

Though not included in CPI calculation, the price of gold in May is likely to fall by 0.27 percent compared to April, while that of U.S. dollar is to increase by 0.36 percent.

The CPI in Vietnam's two biggest cities, capital Hanoi and southern economic hub Ho Chi Minh City, is expected to increase 0. 12 percent and 0.3 percent, respectively, over the previous month.

Monthly CPI in Vietnam is calculated from the 15th day of the previous month to the 15th day of the reference month.