December's Consumer Price Index is forecast to increase by 0.5 to 0.6 percent compared to the previous month due to the advent of Christmas and Tet holidays alongside flooding in several areas.
Accordingly, the price of a number of foods will increase due to demand.
Gas prices will also surge this month, following an increase in world prices, while steel, cement and other construction material will remain stable despite it being peak season.
The sugar price is forecast to fall slightly due to abundant supplies while salt prices go up because of decreased nationwide production.
According to the Ministry of Agriculture and Rural Development, in the first 11 months of the year, the nation had produced around 800,000 tonnes of salt, a significant decline of 32 percent in comparison with the same period last year.
However, the team said that the CPI increase would be slight thanks to price stabilisation programmes aimed at preventing dramatic price increases and essential goods shortages.
Many local supermarkets themselves have stocked up in preparation for the upcoming holiday period.
The Hanoi Trade Corporation (Hapro) has decided on spending around 905 billion VND (43 million USD), an increase of 15 percent compared with the previous Tet.
Vu Thi Hau, deputy general director of the Nhat Nam JSC, which owns the Fivimart chain, said that the company will mobilise around 250 billion VND (11.9 million USD) towards the coming Tet season, an increase of 30 to 35 percent.
Chairman of the Hanoi Supermarket Association, Vu Vinh Phu, said that business preparations are helpful in restraining inflation seeing as the city only has 400 billion VND in its price stabilisation fund./.
Accordingly, the price of a number of foods will increase due to demand.
Gas prices will also surge this month, following an increase in world prices, while steel, cement and other construction material will remain stable despite it being peak season.
The sugar price is forecast to fall slightly due to abundant supplies while salt prices go up because of decreased nationwide production.
According to the Ministry of Agriculture and Rural Development, in the first 11 months of the year, the nation had produced around 800,000 tonnes of salt, a significant decline of 32 percent in comparison with the same period last year.
However, the team said that the CPI increase would be slight thanks to price stabilisation programmes aimed at preventing dramatic price increases and essential goods shortages.
Many local supermarkets themselves have stocked up in preparation for the upcoming holiday period.
The Hanoi Trade Corporation (Hapro) has decided on spending around 905 billion VND (43 million USD), an increase of 15 percent compared with the previous Tet.
Vu Thi Hau, deputy general director of the Nhat Nam JSC, which owns the Fivimart chain, said that the company will mobilise around 250 billion VND (11.9 million USD) towards the coming Tet season, an increase of 30 to 35 percent.
Chairman of the Hanoi Supermarket Association, Vu Vinh Phu, said that business preparations are helpful in restraining inflation seeing as the city only has 400 billion VND in its price stabilisation fund./.
