Higher demand drives consumer prices up ahead of Tet hinh anh 1Illustrative image (Source: VNA)
Hanoi (VNA) – 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.

The Ministry of Finance said on December 8 that the domestic 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 situation have also pushed the prices of fuels, materials and some others up, the ministry added.

The finance ministry said it has coordinated with other ministries and agencies in assessing and forecasting the factors impacting inflation, outlining scenarios and price management solutions, and making reports to the Government, stressing that the price situation remains under control.

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

The supply of essential goods like food and foodstuff has also remained abundant, the ministry said, stressing that production is going on for both domestic and foreign markets./.