Monthly CPI falls to lowest in five years

The local consumer price index (CPI) fell to the lowest level in five years this month, but for the first five months of the year, the CPI still peaked due to rising pork prices.

According to the General Statistics Office, the CPI in May decreased by 0.03 per cent compared to April, down 1.24 per cent from last December, the lowest level since 2016.

However, the average CPI of the first five months of this year still increased by 4.39 per cent over the same period in 2019.

The office said inflation was controlled in May even when pork prices were increasing.

This was thanks to the Government’s synchronous implementation of support policies for local businesses and people during the COVID-19 pandemic.

It was also helped by an initiative to control petrol prices and the proactive monetary policy of Vietnam./.

VNA