Purchasing power growth stood at around 8 per cent in the first five months. It increased, inflation excluded, 9.2 per cent in March, 10.7 per cent in February and 11.9 per cent in January. — File Photo

HA NOI (Biz Hub) — Retail sales and service revenue in the first five months of the year totalled VND1,305 trillion (US$60.67 billion), according to the General Statistics Office (GSO).

The figure represents a 9.1 per cent increase on the year, the GSO said, adding that it rose 8.2 per cent excluding inflation.

Retail sales in the past five months accounted for 75 per cent of the sector's total revenue, reaching VND997 trillion ($46.37 billion).

The hospitality sector saw an 11.2 per cent increase in revenue, or VND145.73 trillion ($6.78 billion), owing to the increased spending during the long holiday.

Meanwhile, the tourism sector, which is valued at VND10.59 trillion ($0.5 billion), fell 11.8 per cent.

Purchasing power growth stood at around 8 per cent in the first five months. It increased, inflation excluded, 9.2 per cent in March, 10.7 per cent in February and 11.9 per cent in January.

The growth of purchasing power has declined and stood at 8 per cent in April and May.

GSO statistician Vu Manh Ha said these indices do not reflect real purchasing power, because they are calculated based on the consumer price index (CPI).

The CPI has been fluctuating. It decreased in January and February, but increased again by 0.15 per cent in March, 0.14 per cent in April and 0.16 per cent in May. But the money inflow of consumption and services did not fluctuate much. — VNS