Prices of essential items surge in HCMC

Loan, a worker at a garment company in HCMC’s Binh Tan District, said her family’s expenses were 20 percent higher than usual in October.

"The price of a 12-kg gas cylinder has increased to VND500,000 ($22.10) from VND340,000. The prices of milk, rice and foodstuffs have also surged, causing our weekly shopping expenses to rise by nearly VND500,000."

Huyen, a food seller in Go Vap District, said prices of fresh foods and vegetables are up 5-20 percent from five to six months ago, and cooking oil prices have increased by VND3,000-5,000 per liter.

"Some cooking oil suppliers have notified me that prices will rise by another VND1,000-2,000 per liter in the next two weeks".

A major supermarket chain in HCMC said since October many producers and suppliers have been seeking to increase the prices of many items, mainly imports and fresh foods, and it is considering hikes of 2-5 percent.

Vo Thanh Loc, marketing director of food store chain Farmers Market, said producers and importers have hiked prices by 5-15 percent since mid-October or early November, and food prices are likely to rise further in the next few months, especially during the upcoming Lunar New Year festival.

Bui Thanh Tung, deputy general director of food company Kido, said cooking oil prices have risen in the last nine months from an average of VND14,000 per kilogram to VND32,000.

Besides their expenses on having workers stay at the workplace, producers also face higher logistics and transport costs as fuel prices have jumped recently, he explained.

To keep prices steady, Farmers Market has shifted from selling imported foodstuffs to locally produced alternatives, and Kido has intensified sales online through shopping apps and e-commerce platforms.

Deputy Prime Minister Le Minh Khai recently instructed ministries and local authorities nationwide to closely monitor supply and demand of essential goods, including fuel, to ensure adequate supply and steady prices through the early months of next year.

Vietnam targets to keep inflation rise under 4 percent this year.