Prices of essential goods continued their downward trend this month, including those of petrol, oil and gas, according to the Ministry of Finance's Price Management Department.
Prices of essential goods continued their downward trend this month, including those of petrol, oil and gas, according to the Ministry of Finance's Price Management Department.
The department said the national consumer price index (CPI) in August declined 0.07 percent against the previous month. This was the first time the August CPI had seen a reduction in the past decade.
In September, the local goods and services market may witness an upward pressure on prices due to the impact of the increase in exchange rate and inter-banking rate between Vietnamese dong and US dollar, especially prices of imported goods.
Moreover, the demand for certain goods and services also surged on occasions such as the National Day on September 2, the Mid-Autumn festival and the beginning of the new school year 2015-16, the department said.
However, even this month, many factors should ease the pressure on prices, including the fact that prices of essential goods and materials in the world market may remain low, supplies may remain stable and there would be a balance in demand and supply of goods and services in the local market, it said.
Other factors included the effect of falling petrol and oil prices in August on the prices of goods and services and the solutions that ministries and provinces/cities come up with to improve management of prices, control these and ensure stability in market and prices.
Meanwhile, the Deputy Governor of the State Bank of Vietnam, Nguyen Thi Hong, also believed that the exchange rate fluctuation would not affect the inflation target of 5 percent set for this year, according to HCM City Securities Company (HSC)'s report.
Rice is one of the important commodities whose prices are expected to fall this month, the department said.
In Vietnam, the price of Vietnamese export rice in August came down compared to July because of the impact of global market prices and difficulties in exports. Therefore, sale price of rice also dropped in the domestic market. The world and local prices for rice would continue to fall this month and beyond.
Gas, petrol and oil prices are also predicted to decline slightly in the coming time, the department said.
In August, prices of petrol and oil kept plunging in keeping with the world market because of lower demand in Europe and higher supply in the US.
The department said those prices may continue falling slightly against at present.
It also said prices of milk products for children aged under six would remain stable in the local market in September.
In the first eight months of this year, about 750 milk products for children aged under six saw price stabilisation, it said. The information about the maximum prices payable for milk products was published on its website as well as the websites of provincial financial departments.
Meanwhile, the Ministry of Health said prices of medicines have basically remained stable due to abundant supply, the Price Management Department reported.
The Ministry of Health and its local departments of health worked to keep prices of medicines under control. Prices of certain kinds of medicines did increase slightly due to their high import prices or because the price of material used to process these medicines had increased.
The prices of certain kinds of medicines were expected to witness changes in the local market in September, the Price Management Department said.-VNA
Consumer price index (CPI) for the month of July rose in the country's two largest cities, Hanoi and HCM City, according to the statistics offices in these cities.
Vietnam’s domestic consumer spending has risen in the first five months of 2015, indicating a boost for the country’s economic growth, according to the Dau Tu (Investment) newspaper.
Recent reductions of fuel prices led to a slight decrease in the country’s CPI in August, according to Do Bich Ngoc, Deputy Director of the Price Statistics Department.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
Illustrative image (Photo: VNA)
