Concerns about price increases

Consumers tighten their spending as prices rise.

Spending pressure

In recent days in Da Nang city, the impact of rising global oil prices has begun to spread. The price of vegetables from the northern and Central Highlands provinces has increased by more than 10% due to increased transportation costs; some input materials such as flour and plastic pellets have also recorded a slight upward trend.

From a consumer perspective, many eateries have adjusted their prices upwards by 3,000-5,000 VND per portion, making things even more difficult for many workers and students.

Ms. Nguyen Thi Lan, a worker at Hoa Khanh Industrial Park, shared: "The increase of a few thousand dong per meal might seem insignificant, but when you add it up over the month, it's a large sum. Income hasn't increased, but expenses keep rising, forcing me to cut back on many other things."

Meanwhile, Tran Minh Hoang, a student at a university in the city, said he has had to switch to cooking his own meals more often to save on living expenses.

What worries consumers is not just the price increase, but the possibility of prices remaining high even when input costs have cooled down. Without timely oversight, price increases could easily become a habit, creating a new price level unfavorable to the public. Many believe that stricter control is needed from production and distribution to business establishments to ensure transparent and reasonable pricing, avoiding arbitrary price increases driven by herd mentality.

A representative from the Da Nang City Department of Industry and Trade stated that authorities are intensifying their monitoring of market developments, especially for essential goods.

Market management forces are required to inspect and monitor the listing and sale of goods at the listed prices, and to strictly handle cases of exploiting price fluctuations to speculate, hoard goods, or unreasonably increase prices.

Flexible solutions from "temporary surcharges"

Based on market realities, several flexible approaches are proving effective in reducing price pressure. A Vietnamese businessman operating in Thailand shared that in some agricultural areas in the Northeast of the country, when input costs increase due to unforeseen circumstances, sellers do not adjust fixed prices but apply temporary surcharges. When conditions stabilize, the surcharges are removed and prices return to their original levels.

This approach not only helps curb the "prices keep rising and won't go down" mentality, but also creates transparency in business. Consumers can easily compare and choose, thereby forcing businesses to carefully consider price adjustments and avoid excessive price increases.

In Da Nang, this practice has also occurred at certain times. During the recent Lunar New Year holiday, many restaurants and shops announced an additional surcharge of 7-10% due to a shortage of staff. After the holiday, the surcharge was removed, and prices returned to normal.

Mr. Le Van Tuan, the owner of a restaurant on Nguyen Van Linh Street, said: "Customers accept the surcharge if it is clearly stated. The important thing is transparency and keeping our commitments afterward."

According to economic experts, temporary surcharges are a worthwhile solution in the context of short-term market fluctuations. However, for effective implementation, guidance and supervision from regulatory authorities are necessary to prevent the misuse of surcharges to "legitimize" prolonged price increases.

It is clear that, in a context where many input factors are still fluctuating unpredictably, price control cannot rely solely on rigid administrative measures. Besides the role of authorities, encouraging flexible and transparent market-based solutions such as temporary surcharges will contribute to price stability and better protect consumer rights.

Source: https://baodanang.vn/noi-lo-tang-gia-3328670.html