A survey of retail prices carried out by DTiNews at many markets and supermarkets in Hanoi showed that most food prices are up by 10 to 20 percent at the beginning of November.

Consumer price index in Hanoi rose by 1.22 percent in October.

Deputy Head of the Hanoi Department of Industry and Trade, Nguyen Van Dong, confirmed our findings.

The city’s consumer price index (CPI) in October rose by 1.22 percent from September, higher than the country’s average month-to-month rate of 1.05 percent.

Dong attributed the increase of food prices to higher price of materials, food price rises in the southern provinces and the transfer of a considerable amount of food to the country’s central region to support people suffering from floods.

“Our family usually buys rice at a price of VND 11,000 (about USD0.56) per kilogram. Now it has risen to VND 14,000 a kilogram,” said Son, a middle-aged man living in Ba Dinh district.

Dong said that the Hanoi authorities decided to spend VND 500 billion (USD 25.64 million) to stabilise food prices.

“We are enhancing our inspection to curb improper price increases,” he added.

He expects that commodity prices would increase from now to the end of the year because of the high demand of customers.

Source: Dtinews