This is the third successive month the CPI has tumbled in the two biggest cities of Viet Nam.— Photo vinacorp

HA NOI (Biz Hub)—May's consumer price index (CPI) has declined in both HCM City and Ha Noi, by 0.16 percent and 0.22 percent respectively, from the levels of the previous month.

This is the third successive month the CPI has tumbled in the two biggest cities of Viet Nam.

Food and drink prices in HCM City, especially at restaurants, increased slightly, while culture, entertainment and tourism services saw moderate declines of 0.09 percent. Healthcare prices also slipped down by 0.02 per cent.

Ha Noi's transportation costs dropped 0.78 per cent, the highest decrease followed by food and drink (down by 0.49 percent), postage and telecommunications (down by 0.3 per cent), and restaurants, utilities, and building materials (down by 0.04 percent).

Ha Noi Statistics Office Head Cong Xuan Mui said the CPI's decline in the capital city can be credited to low consumer demand in spite of the month's long holiday.

Three consecutive petrol price cuts in April also contributed to the CPI's downward trend.

Ha Noi is planning to launch major promotional activities involving 500 businesses in the hope of stimulating consumer demand. — VNS