Prices surge 15-60% during Tet

Prices of commodities increased 15-60 percent during the Lunar New Year, according to the Ministry of Industry and Trade.

The price of vegetables and fruits rose 10-50 percent compared to the pre-Tet period, or 10-60 percent year on year, while that of meat and processed goods rose 5-15 percent.

While pork increased 5-10 percent in price, the price of beef, chicken and seafood rose 10-20 percent due to surging high demand and the northern harsh cold spell that killed 18,000 cattle, according to the Ministry of Agriculture and Rural Development.

In the northern region, beef cost VND180,000 per kilogram, pork price ranged from VND75,000 to VND100,000, and chicken price ranged from VND75,000 to VND130,000. Meanwhile in Ho Chi Minh City, retailed pork were sold at VND65,000-80,000.

Beverages, cakes and sweets upped 10-15 percent year on year as their materials’ price increased. Imported materials like wheat powder, cream, cheese and milk rose 25-35 percent year on year.

During the past Tet’s holiday week, the municipal market monitors uncovered and imposed fines worth VND2.6 billion for violators, according to the Ministry of Industry and Trade.

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