Vietnam's CPI increases 0.54 percent in May

Vietnam's Consumer Price Index (CPI) is estimated to increase by 0.54 percent in May compared to the previous month, according to the General Statistics Office (GSO) on Tuesday.

The CPI in May this year is likely to rise by 2.28 percent compared to the same period in 2015, the GSO said in a report on its website.

All the 11 groups of commodities in the CPI calculation basket witnessed climbing prices. Price of transportation group is expected to post the highest increase of 2.39 percent compared to the previous month.

Petroleum price hike as well as high tourism demand in summer contributed to the increase in price of transportation group, assessed GSO.

The groups of education as well as garment, headwear and footwear saw the smallest increase of 0.02 percent over April.

Though not included in the CPI calculation, in May, price of gold increased by 1.45 percent, while that of U.S. dollar dropped by 0.1 percent over April, said GSO.

Vietnam sets to keep inflation at less than 5 percent in 2016.

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