Ministry: Vietnam Consumer Goods Prices to Be Stable in Near Term
The Vietnamese Ministry of Industry and Trade has just forecast that consumer prices at the domestic market will be stabile in the coming months amid dropping prices of materials at the global market.
The trend will be likely because domestic purchasing power of goods is still not high, the ministry predicted.
Prices of vegetable, foods and meat will drop between VND500 and VND1,500 in southern Vietnam thanks to abundant supply, prices of pork and beef will be stable in northern Vietnam, the ministry said.
Prices of beef in many localities will likely reduce by VND5,000 to VND10,000 per kilogram from current VND90,000-VND100,000/kg, the ministry added.
The domestic demand for fertilizer is generally met, therefore, prices of fertilizer will see not much changes thanks to abundant supply, meanwhile, prices of steel will be down due to global prices of steel ingot were declining.
The ministry also predicted that prices of rice and rice paddy will be slightly up in flood-stricken areas and other goods will see flat.
Vietnam sees its consumer prices soaring 1.56 per cent on month in Aug and local banks continued to lower interest rates of dong and dollar deposits. (VNA, GSO)
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