Business

Higher demand drives consumer prices up ahead of Tet

Consumer prices have been slightly rising in the last quarter of this year because of the increasing demand ahead of Tet (Lunar New Year) holidays.
Higher demand drives consumer prices up ahead of Tet ảnh 1Illustrative image (Source: VNA)
Hanoi (VNA) – Consumer prices have been slightlyrising in the last quarter of this year because of the increasing demand aheadof Tet (Lunar New Year) holidays.

The Ministry of Finance said on December 8 that thedomestic market recovered significantly in November after two years of the COVID-19 pandemic, and the consumption demand has risen after that.

The rapid, complex developments of the world situationhave also pushed the prices of fuels, materials and some others up, theministry added.

The finance ministry said it has coordinated withother ministries and agencies in assessing and forecasting the factorsimpacting inflation, outlining scenarios and price management solutions, andmaking reports to the Government, stressing that the price situation remainsunder control.

Notably, petrol prices have been adjusted in linewith global price developments, but stayed lower thanks to the flexible use ofthe price stabilisation fund, plus the decrease in environmental protection tax.

The supply of essential goods like food and foodstuffhas also remained abundant, the ministry said, stressing that production isgoing on for both domestic and foreign markets./.
VNA
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