Preventing "price inflation" based on salary

Tired of rising prices

On July 5-7, in Da Nang City, the prices of some goods increased compared to before. Visiting Thanh Vinh market to buy some food, Ms. Tran Thi Ngoc (a worker at Hoa Khanh Industrial Park, Lien Chieu District, Da Nang City) spent nearly half an hour checking prices at various stalls before finally deciding to buy some tomatoes, a few lemons, and 10 packets of instant noodles… Tomatoes were priced at 28,000-30,000 VND/kg, an increase of about 8,000 VND/kg; lemons at 25,000 VND/kg, an increase of 7,000 VND/kg compared to last month; instant noodles also increased by 3,000 VND per 10 packets…

"Now, everything at the market has increased in price by a few thousand to tens of thousands of dong per kilogram. Salaries have increased slightly, but the cost of living has risen many times that amount. Even vegetables are expensive, let alone buying a pound of meat for my children," said Ms. Ngoc.

Consumers choose to buy food at a supermarket in Ho Chi Minh City. Photo: XUAN TRUONG

Ms. Le Thi Trang (30 years old, from Quang Binh province) and her family live in a room less than 15 square meters in Hoa Khanh Bac ward, Lien Chieu district, Da Nang city. All household expenses depend on her husband's salary, approximately 8 million VND per month. Even with frugal spending, it's not enough to support two young children. "Food, diapers, milk, electricity, and water bills are all spent each month; there's nothing left over. My husband works hard, and some days he only eats a bowl of cold rice mixed with instant noodles," Ms. Trang recounted.

In Ho Chi Minh City, many items at local markets and grocery stores have also increased in price over the past few weeks. Ms. Phuong Thi Oanh (who works at Tan Tao Industrial Park, Binh Tan District) said that cooking oil has increased by 3,000-5,000 VND/liter, chicken eggs by about 4,000 VND/dozen, and vegetables by 2,000-5,000 VND/kg, depending on the type. Each trip to the market costs an extra 20,000-40,000 VND compared to a few months ago.

Mr. Mai Van Quynh (residing on National Highway 1A, Binh Chanh District) shared that food prices at retail markets have also increased significantly. For example, flying fish costs 80,000 VND/kg, an increase of about 20,000 VND/kg compared to last month; boneless pork belly costs 160,000 VND/kg, an increase of about 10,000 VND/kg; wholesale guava from large wholesalers costs 190,000 VND/10kg, an increase of 70,000 VND/10kg…

"Every little thing is increasing, causing total monthly expenses to rise significantly, which puts considerable pressure on workers like us," Quynh expressed.

Supermarkets and wholesale markets: guaranteed best prices.

Mr. Tran Van Vu, Director of the Da Nang City Statistics Department, said that Da Nang City has directed all sectors to simultaneously implement price control measures. The focus is on controlling prices at the grassroots level: markets, supermarkets, shops, and stores are required to display prices and adhere to the posted prices. “The Da Nang City Statistics Department has developed a plan to launch an operation in July with 14 managers and 32 investigators going to markets and supermarkets to closely monitor market prices for three consecutive months. Other forces such as the Department of Industry and Trade and the Department of Finance are also cooperating. With such continuous inspections, small traders and business owners do not dare to raise prices,” Mr. Vu said.

Consumers choose to buy food at AEON supermarket, Tan Phu District, Ho Chi Minh City. Photo: Xuan Truong

According to information from retail systems such as MM Mega Market, Satra, Saigon Co.op , etc., many large-scale summer promotions are being implemented with attractive prices. Discounts of up to 50% are offered on food, consumer goods, and cosmetics. In addition, some items are discounted by 70%-80%. Furthermore, wholesale markets in Ho Chi Minh City such as Binh Dien, Thu Duc, Hoc Mon, and Binh Tay are also committed to maintaining good and stable prices for consumers.

Discussing the recent price fluctuations, representatives from wholesale markets specializing in supplying vegetables, fruits, and food in Ho Chi Minh City acknowledged that these were only due to some items not arriving at the market on time or the impact of weather; however, the majority of goods supplied at the markets have good prices. For example, at Hoc Mon wholesale market, the prices of chayote, Chinese cabbage, cabbage, and radishes are stable at around 6,000-9,000 VND/kg; carrots at 14,000 VND/kg; beetroot, okra, and bok choy at 10,000 VND/kg; tangerines at 25,000-30,000 VND/kg; rambutan at 25,000 VND/kg; pork chops at 80,000 VND/kg; and boneless pork belly at 115,000 VND/kg…

In addition, the management boards of some traditional markets such as Hoa Hung (District 10), Ben Thanh (District 1), and An Dong (District 5) shared that traders always strive to offer the best prices and share profits with consumers. Ms. Nguyen Loan, a trader at Hoa Hung Market (District 10), confirmed that customers increasingly prefer shopping at supermarkets and shopping malls because of their cool air conditioning, neat and clean shelves, etc.

“It is not easy to retain loyal customers who still like to go to traditional markets, so we have to make more efforts: selling fresh, quality products at reasonable prices. Occasionally, the vendors give customers some onions, cilantro, and a few chili peppers… That way, customers will be happy and will come back to us,” Ms. Loan shared.

Mr. Nguyen Anh Duc, General Director of the Ho Chi Minh City Commercial Cooperative Union (Saigon Co.op) and Chairman of the Vietnam Retailers Association, stated that the consumer stimulus programs launched by Ho Chi Minh City contribute to increasing purchasing power, stabilizing prices, and giving consumers the opportunity to access goods at good prices. Saigon Co.op has been offering many great deals for buyers.

For example, the Co.op private label festival features over 1,000 products discounted by up to 50% or as low as 5,000 VND per product; the International Cooperative Day - Accompanying OCOP program offers direct discounts of up to 25% on OCOP products from local businesses and cooperatives nationwide (smooth honey peanut butter, lotus seed heart tea, Can Gio sun-dried pineapple fish, black brown rice, instant coffee, many vegetables and fruits discounted by 15%)... The "Shop to Your Heart's Content - Compete to Buy" program offers discounts of up to 54% or buy one get one free, applicable to food products, chemicals, household goods and clothing...

• Mr. NGUYEN NGUYEN PHUONG, Deputy Director of the Ho Chi Minh City Department of Industry and Trade:

Stimulating consumer demand and monitoring prices.

The concentrated promotional event "Shopping Season" in Ho Chi Minh City in 2024 (divided into two phases, taking place from June 15th to September 15th and from November 15th to December 31st) is expected to help Ho Chi Minh City achieve a dual goal: increasing total retail sales of goods and consumer service revenue, while simultaneously curbing inflation and ensuring social welfare.

The program was widely implemented among manufacturing and trading businesses in the area. Approximately 10,000 merchants participated in sales, with over 55,000 promotional programs across various sectors including trade, tourism, banking services, payment intermediaries, and transportation. In both phases, merchants were eligible for discounts of up to 100%.

In addition, the Ho Chi Minh City Department of Industry and Trade has been focusing on implementing large-scale market stabilization programs throughout the year. To prevent price spikes, the Department of Industry and Trade is strengthening coordination with the Ho Chi Minh City Market Management Department and other relevant units to review price listings, product origins, etc.

• Ms. NGUYEN THI BICH VAN, Director of Communications, Central Retail Vietnam Group:

Guarantee preferential prices for customers

We strive to increase benefits and offer the best prices to consumers. Currently, the GO! Big C supermarket chain is selling over 2,000 products at discounted prices, valid from now until the end of the year. This is also part of the group's strategy to realize its efforts to cooperate with the Government and ministries to curb inflation, contribute to stimulating consumer demand, and increase the number of customers shopping at our chain of stores.

GO! Big C offers a diverse range of goods, from fresh produce, vegetables, and fruits to fast-moving consumer goods such as spices, confectionery, milk, frozen foods, personal care products, and laundry products… GO! and Big C are committed to offering prices lower than the market within a 10km radius. Simultaneously, Central Retail Group maintains its "Early Market Sale" program, offering an additional 10% discount on all fresh produce: meat, fish, fresh seafood, vegetables, and fruits (applicable from supermarket opening time until 10 AM daily; Monday to Friday).

• Mr. PHAM ANH VU: Director of Communications, Vietnam Tourism Joint Stock Company:

Large-scale price stabilization policies are needed.

The impact of price directly affects customers' wallets. For tour groups of Vietnam Tourism, tour prices remain stable, and meals are still provided in full, without being "cut or reduced" due to pressure from price increases. To secure good prices, we had to negotiate contracts with partners months, even a year in advance. However, in the last few days, our partners have informed us about adjusting prices upwards for some items. Therefore, it can be implicitly understood that as soon as the old contract ends, new contracts will have the new prices.

The domestic tourism industry, already struggling due to the impact of rising airfares, is now facing further difficulties from the increase in commodity prices following wage hikes. Perhaps the government needs a large-scale price stabilization policy, involving all ministries and sectors, to increase the attractiveness of this "integrated economic sector," giving people more opportunities to explore Vietnam's beautiful landscapes and stimulating domestic consumption.

THI HONG - XUAN QUYNH

Source: https://www.sggp.org.vn/ngan-chan-tinh-trang-thoi-gia-theo-luong-post747991.html