Prices of 300 consumer staples to increase in August

Prices of around 300 consumer staples will start increasing by 3%-12% from the end of August, said local supermarkets Maximark and Citimart.

Groups of goods that will see the highest price hike include garment up 5%-12%; chemicals and cosmetic rising 5%-8%; food and food stuffs climbing 5%; household products increasing 4%-5% and cocking oil up 3%, the local online newspaper Saigontiepthi reported August 13.

Ho Chi Minh City Statistics Office said milk and rice price hike was on top customers’ concerns. As of August 10, Abbott milk prices has increased by 7% while in July, prices of Dumex, XO, Dutch Lady milk already rose by 2.5%-10%. On average, milk prices have increased by 8.56% from the end of 2009.

Prices of trademarked rice in super markets increased from VND1,000- VND2,000/kg while those in free market rose from VND200-VND1,000/kg.

Over 100 suppliers for these super markets attributed the price hikes to the increase in prices of sugar prices, raw materials, higher dollar prices.

Besides, supermarkets expects prices of other goods to rise due to the petrol price hike of VND410/liter effective from 19:00 August 9. – Saigon Tiep thi

Tags: Vietnam prices, Vietnam retail market, Vietnam Retail Sales

Posted by VBN on Aug 13 2010. Filed under Economy News, Retail. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry