Pork price CPI in May lowest in 10 years

The 9.94% drop in pork prices was the main reason for the 0.53% decrease in CPI in May compared to the previous month.

According to the General Statistics Office, the consumer price index (CPI) in May decreased by 0.53% compared to the previous month, which is also the lowest difference between May and the previous month since 2008. On average, in the first 5 months of 2017, the national CPI increased by 4.47% compared to the same period in 2016.

Four out of 11 groups of goods and services had CPI in May decrease compared to the previous month, of which the group of food and catering services decreased the most by 1.43% (the food group decreased by 2.27%).

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According to the General Statistics Office, the main reason for the price decrease is the fresh meat group. Pork prices have decreased by 9.94% due to a sharp increase in supply while demand has not increased and in recent months, Chinese traders have limited their purchases, which is the main reason for this situation.

The price of live pigs is still at a 10-year low, with some places only fluctuating between VND18,000 and VND23,000 per kilogram while the break-even price for farmers is VND36,000. The price of pork sold to consumers has also decreased compared to last month, fluctuating between VND55,000 and VND80,000 per kilogram.

In May, cost-push factors such as food and gasoline prices all decreased, causing the general CPI fluctuation during the month to depend on the price movements of energy, food, foodstuffs, and State-managed goods, so the general CPI index was lower than the core inflation. The average 5-month core inflation was 1.56%, lower than the planned level of 1.6-1.8%./.

According to VOV