Consumers tighten spending

Consumers care about spending wisely.

In the context of high commodity prices, many consumers said they tried to tighten spending, even "tighten their belts".

The story of consumer goods prices has never been less hot when income often cannot keep up with the price increase, the price level is higher than income... A couple who are workers in Hoa Phu Industrial Park, Ms. Nguyen Thanh Hoa (in Thanh Quoi commune, Long Ho district) said: "Our salary (having worked for 6 years) is 11 million VND/month. Due to many expenses, we run out every month, some months we even have a deficit."

Ms. Hoa calculated the monthly expenses for a family of 5 people including: gas, electricity, water, wifi about 900,000 VND; rice and spices about 700,000 VND; food about 150,000 VND/day is 4,500,000 VND/month; milk and diapers for the child more than 2 million VND/month... According to Ms. Hoa, compared to 1-2 years ago, the price of many goods has increased, all together it costs a few hundred to 1 million VND/month so she has to try to reduce expenses.

Also an industrial park worker, Ms. Truong Tuyet Ngan (in Phu Thinh commune, Tam Binh district) shared that for couples with young children, the biggest expenses are milk, diapers, and childcare costs.

In addition, we also have to set aside a budget in case the baby is unwell and needs to see a doctor. Not to mention other expenses such as parties, car repairs, oil changes, etc., so "arranging expenses is a headache, we have to save as much as possible".

Mr. Luu Cong Van (in Song Phu commune, Tam Binh district) confided: "The 13th month salary at the end of the year is the most abundant part of the year, but expenses during Tet also increase compared to normal days". Therefore, in addition to working regularly, he hopes to work overtime and get a raise.

Ms. Pham Thuy Lien (in Tan Hanh commune, Long Ho district) - a bank employee, said: "The food cost for a family of 5 at the end of last year was about 500,000 VND/week (including breakfast at home), but now it has increased to 800,000-1,000,000 VND/week, so we have to tighten spending on cheap homegrown vegetables and fruits, only buying really necessary goods.

Having just ordered a 25kg bag of Jesmine fragrant rice for 370,000 VND/bag, Ms. Bich Ngoc (in Ward 4, Vinh Long City) wondered to the seller, "Has the price of rice just increased again? It was 350,000 VND before?"

The owner of Khai Hoan rice shop (Ward 8, Vinh Long City) said that more than a year ago, the price of this type of rice was 300,000 VND/bag, then increased to 350,000, 360,000 VND. For about a week now, it has increased by 10,000 VND/kg, now every other day the price of all types of rice increases by 200 VND/kg and has not stopped.

Ms. Ngoc confided: “Rice prices are increasing, while the prices of many essential goods are currently high, so on the one hand, I try to work hard to increase my income, and on the other hand, I calculate and cut down on expenses.” According to Ms. Ngoc, the authorities need to stabilize the prices of goods, especially essential goods, to reduce the spending burden on people.

To contribute to stabilizing the consumer price index, Chairman of the Provincial People's Committee - Lu Quang Ngoi requested departments, branches and localities in July 2023 and the last months of 2023 to continue to effectively implement tasks and solutions according to the Socio -Economic Recovery and Development Program; 3 national target programs.

Effectively implementing price management contributes to stabilizing the consumer price index. In addition, strengthening the direction of market management, closely monitoring market developments, proactively taking measures to prevent shortages and price increases of essential goods, raw materials, fuels, and materials for production and business.

It is necessary to closely monitor supply and demand developments and have solutions to stabilize the market.

According to Decree 24/2023/ND-CP of the Government , from July 1, 2023, the basic salary of civil servants and public employees will increase from VND 1.49 million to VND 1.8 million/month. In addition, a 2% reduction in value added tax (VAT) for groups of goods and services currently subject to a 10% value added tax rate (to 8%) will apply from July 1 to the end of 2023.

Many experts believe that the General Department of Market Management (Ministry of Industry and Trade) and the Price Management Department (Ministry of Finance) need to coordinate with localities to closely manage market prices, forcing points of sale to list prices that match actual prices.

Only then can policies on wage increases, tax reductions, fee reductions, and interest rate reductions be effective in the process of economic recovery and growth. In addition, it is necessary to closely monitor developments in supply and demand, markets, and prices to have appropriate solutions to stabilize the market, especially for some essential commodities that are fluctuating, to ensure social security.

Article and photos: NAM ANH

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