The northern province of Vinh Phuc saw its Consumer Price Index (CPI) of the first eight months of this year rise by 4.76 percent year on year (Illustrative photo: baochinhphu.vn) VinhPhuc (VNA) – The northern province of Vinh Phuc saw its Consumer Price Index(CPI) of the first eight months of this year rise by 4.76 percent year on year,which is the highest increase for the period for the past five years, accordingto the provincial Statistics Office.
TheCPI for January-August period picked up 1.32 percent year on year in 2019, 4.25percent in 2018, 3.62 percent in 2017, 1.35 percent in 2016 and 0.27 percent in2015.
Meanwhile,the August CPI decreased by 0.02 percent from the previous month, but increasedby 3.42 percent from one year ago.
Specifically,the prices of food and restaurant services decreased by 0.22 percent, mostlydue to falling prices of food (0.71 percent) and fresh meat (1.38 percent).
Atthe same time, the prices of rice rose 4.59 percent, which also pushed up pricesof wheat, maize, sweet potato and cassava.
Eggsalso became more expensive by 10.25 percent compared to the previous months dueto increasing demands for eggs in the production of traditional cakes for Mid-Autumnfestival.
Freshvegetables, processed food also saw prices up by 4.55 percent, while anincrease of 0.65 percent was recorded in the prices of housing, utilities, fueland construction material. Costs of transport services showed a very slightincrease of 0.03 percent.
Theincrease of the CPI was attributed to the impacts of the COVID-19 pandemic andthe hike in petrol prices. At the same time, prolonged heat waves this summerand rising demand for essential food and goods were also factors that drove consumerprices up.
However,trade and services in Vinh Phuc have showed positive developments despite the pandemic,thanks to the provincial authorities’ efforts to develop the domestic market.
Theprovincial administration has also promoted the campaign “Vietnamese prioritiseVietnamese goods”, thus stimulating demands for locally-produced commodities.
Totalretail sales and services revenues in the province in August were estimated atover 4.78 trillion VND (206.2 million USD at current exchange rate), up 6.6 percentfrom July and 12.94 percent compared to the same period last year.
Forthe first eight months of this year, total retail sales and services revenuesin Vinh Phuc amounted to nearly 32 trillion VND (1.38 billion USD). The figurerepresented a decrease of 3.65 percent from the same periods in 2019.
Ofthe revenues, retail sales dropped 1.64 percent year on year, while earningsfrom accommodation, restaurant and tourism services fell 21.88 percent.
VinhPhuc has also worked to develop e-commerce, considering its potential benefitsto enterprises’ business in particular and social and economic development ingeneral.
Mostsupermarkets, shopping centres and major stores in the province have nowaccepted non-cash payment.
Theprovince has set a goal to raise its ranking in the national e-commerce listingto the top 12. Towards this goal, Vinh Phuc has mapped out a road map alongwith solutions for the 2021-2025 period.
Theprovince aims to expand the scale of e-commerce activities, build theinfrastructure for e-commerce, encourage local businesses to engage ine-commerce and develop human resources for the field.
By2025, revenues from e-commerce are projected to account for at least 10 percentof total retail sales and services turnover. The rate of non-cash payment ine-commerce transactions should reach 55 percent, while 100 percent of utilitiesand telecom supplying businesses in Vinh Phuc will accept households’ electronicpayment.
VinhPhuc plans to hold short-time training courses for around 3,000 businessexecutives and State employees in e-commerce, in order to improve their capacityand skills in promoting e-commerce at enterprises, State agencies and communities./.
TheCPI for January-August period picked up 1.32 percent year on year in 2019, 4.25percent in 2018, 3.62 percent in 2017, 1.35 percent in 2016 and 0.27 percent in2015.
Meanwhile,the August CPI decreased by 0.02 percent from the previous month, but increasedby 3.42 percent from one year ago.
Specifically,the prices of food and restaurant services decreased by 0.22 percent, mostlydue to falling prices of food (0.71 percent) and fresh meat (1.38 percent).
Atthe same time, the prices of rice rose 4.59 percent, which also pushed up pricesof wheat, maize, sweet potato and cassava.
Eggsalso became more expensive by 10.25 percent compared to the previous months dueto increasing demands for eggs in the production of traditional cakes for Mid-Autumnfestival.
Freshvegetables, processed food also saw prices up by 4.55 percent, while anincrease of 0.65 percent was recorded in the prices of housing, utilities, fueland construction material. Costs of transport services showed a very slightincrease of 0.03 percent.
Theincrease of the CPI was attributed to the impacts of the COVID-19 pandemic andthe hike in petrol prices. At the same time, prolonged heat waves this summerand rising demand for essential food and goods were also factors that drove consumerprices up.
However,trade and services in Vinh Phuc have showed positive developments despite the pandemic,thanks to the provincial authorities’ efforts to develop the domestic market.
Theprovincial administration has also promoted the campaign “Vietnamese prioritiseVietnamese goods”, thus stimulating demands for locally-produced commodities.
Totalretail sales and services revenues in the province in August were estimated atover 4.78 trillion VND (206.2 million USD at current exchange rate), up 6.6 percentfrom July and 12.94 percent compared to the same period last year.
Forthe first eight months of this year, total retail sales and services revenuesin Vinh Phuc amounted to nearly 32 trillion VND (1.38 billion USD). The figurerepresented a decrease of 3.65 percent from the same periods in 2019.
Ofthe revenues, retail sales dropped 1.64 percent year on year, while earningsfrom accommodation, restaurant and tourism services fell 21.88 percent.
VinhPhuc has also worked to develop e-commerce, considering its potential benefitsto enterprises’ business in particular and social and economic development ingeneral.
Mostsupermarkets, shopping centres and major stores in the province have nowaccepted non-cash payment.
Theprovince has set a goal to raise its ranking in the national e-commerce listingto the top 12. Towards this goal, Vinh Phuc has mapped out a road map alongwith solutions for the 2021-2025 period.
Theprovince aims to expand the scale of e-commerce activities, build theinfrastructure for e-commerce, encourage local businesses to engage ine-commerce and develop human resources for the field.
By2025, revenues from e-commerce are projected to account for at least 10 percentof total retail sales and services turnover. The rate of non-cash payment ine-commerce transactions should reach 55 percent, while 100 percent of utilitiesand telecom supplying businesses in Vinh Phuc will accept households’ electronicpayment.
VinhPhuc plans to hold short-time training courses for around 3,000 businessexecutives and State employees in e-commerce, in order to improve their capacityand skills in promoting e-commerce at enterprises, State agencies and communities./.
VNA
