Five Key Commodity Prices to Rise This Month
The prices of food, foodstuff, sugar, medicine and petrol will increase this month, said the Ministry of Trade (MoT) in a recent report to the Government.
Rice price will go up slightly due to declining supply and high export demand in the Mekong Delta, Vietnam’s granary, together with high rice price in the world market.
Increasing input cost, the impact of disease, and growing local market demand will also fuel foodstuff prices, said the ministry.
The MoT added that medicine price hikes are inevitable as prices of imported materials such as anpiculiin, amoxylin, vitamin C, lactose and others soar.
Meanwhile, Vietnamese oil traders increased the retail price of petrol by 7.3 per cent early May 7, following a sharp rise of global distillated fuel prices.
With this trend, the high CPI in May and possibly in the following months is proven unavoidable. In May, the CPI is forecast to rise 0.5 per cent. (HCM City Law, Liberated Saigon)
Vietnamese
