Prices of Imports Rising in Vietnam amid U.S. Dollar Appreciation
A number of traders in Vietnam have applied sharp price hikes on various kinds of imports from early this month due to the strong appreciation of the U.S. dollar against the Vietnamese dong.
Prices of many imports such as laptops, cameras, motorbikes, machinery and equipment have been increased sharply. The rising prices of input materials in the world market have also pushed up prices of several essential goods such as steel and gas.
Gas traders continued increasing prices by VND25,000 per 12-kg canister from Nov 1 while some steel producers are estimated to raise prices by VND100,000 and VND200,000 per ton.
The rising prices of commodities in the domestic market has put pressure on Vietnam’s consumer price index, which rose 1.05% from September, the highest monthly increase pace in every October since 1995, local economists said.
The index was up 9.66% from a year earlier and 7.58% from the beginning of this year, the General Statistics Office said late October. (Labour)
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