CPI to Rise 0.5 per cent in May
The consumer price index (CPI) is likely to rise by 0.5 per cent in May, the Ministry of Trade’s Information Consulting Council said Wednesday.
Prices of materials, fuels and commodities are forecast to remain high in May, hiked by high prices of crude oil and gold, and the depreciation of the US dollar in the world market.
Crude oil will fluctuate above US$60 a barrel, steel ingot Q235 at around US$480-500 a ton, and urea fertilizer at US$250-270 a ton.
Prices of foodstuff, rice, pepper, rubber, medicine, fertilizer and construction material are expected to go up.
The council said the market would not see any big change in consumer price in general.
CPI rose 0.49 per cent in April, outstripping prediction set at 0.2-0.25 per cent in the month. The index expanded by 3.52 per cent in the first four months this year. (Labor)
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