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Prices of essential goods set to rise in 2020



Hanoi Supermarked

The Institute of Economics and Finance and the Price Management Department in Hanoi made a forecast on Vietnam’s price movements in 2019 and forecasts for 2020 at a seminar on Jan. 3, DTI News reported. According to the information discussed at the seminar, prices on a variety of essential goods and services are set to increase in 2020. The government continues to push inflation below 4%, but this increase may put pressure on this precedent in the future.

Representatives from the Finance Ministry, the ministry of Industry and Trade, economic research institutes and economic experts all attended the seminar.

The rising prices of fuel, pork, healthcare services, education and real estate all helped to push prices higher in 2019. The Increase of the domestic supply of commodities and the stable monetary policy were partially responsible for curbing CPI.

Nguyen Duc Do, a deputy at the Institute of Economics and Finance, said that keeping inflation below 4% in 2020 wou;d greatly depend on the prices of pork. The prices of pork, healthcare, education and land are all presumed to continue to rise in the beginning months of 2020, according to the Price Management Department.

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