The General Statistics Office has just announced the SCOLI in 2023. This is a measure reflecting the trend and level of fluctuations in the cost of living of 63 provinces and cities, 6 socio-economic regions according to the annual cycle. In terms of provinces and cities, the capital Hanoi is taken as the base for comparison and is calculated at 100%.
According to the announcement, the SCOLI index of Ho Chi Minh City is equal to 98.44% compared to Hanoi due to some groups of goods having lower average prices, such as clothing, hats, shoes at approximately 82%; culture, entertainment, tourism at 91.8%; food and catering services at 94.1%; household equipment and appliances at 94.9%.
The General Statistics Office explained that in addition to the abundant supply of goods, Ho Chi Minh City has promoted the organization of connecting supply and demand for retail goods, so the prices of essential consumer goods tend to be lower than in Hanoi. However, the city has some groups of goods with average prices higher than the capital, such as education at 116.8%; beverages and tobacco at 114.5%; and other goods and services at 120.5%.
Quang Ninh ranked third with an index equal to 97.9% compared to Hanoi. Of the 11 main groups of consumer goods and services, Quang Ninh had 6 groups with lower average prices, including: Culture, entertainment, tourism; post and telecommunications; household appliances and equipment; transportation; clothing, hats, footwear; food and catering services. Five groups of goods with higher prices than the capital included: Medicines, medical services; housing, electricity, water, fuel, construction materials; beverages, tobacco; education and other goods and services.
The cost of living is the third most expensive in the country because Quang Ninh is a center of tourism, marine economy, gateway to the key economic region of the North and the whole country. The vibrant economic development makes the prices of some groups of goods and services higher than in other localities.
Hai Phong ranked fourth with an index of over 96% compared to Hanoi. The port city has a diverse commercial organization system with the active participation of all economic sectors. Some groups of goods have lower average prices than the capital, such as education; culture, entertainment and tourism; clothing, hats, footwear; food and beverage services; medicine, medical services and some groups have higher prices, such as post and telecommunications; household appliances and equipment.
Binh Duong ranked fifth with an index equal to 94.2% compared to the capital, increasing the expensive level by 3 levels compared to 2022. Most of Binh Duong's commodity groups are lower than Hanoi's, but housing, electricity, water, fuel and construction materials are higher due to the concentration of many industrial parks and a large number of workers.
The five localities with the lowest prices in the country are Ben Tre at 85.9%; Nam Dinh at 86.3%, Quang Tri at 86.6%; Soc Trang at 87.8% and Gia Lai at 87.9% compared to Hanoi. The reason is that the prices of food and beverage services, clothing, rental housing, transportation, education and entertainment services in this group are low.
Ben Tre maintains the cheapest cost of living in the country with average prices of goods ranging from 72-101% compared to the capital. This province has a network of waterways and floating markets, promoting the consumption of goods and services along with developing agriculture and livestock to meet the demand for essential goods in the area.
By economic region, the Red River Delta has the most expensive cost of living in the country and the lowest is the Mekong Delta. Last year, 32 provinces and cities decreased in cost of living, while 28 localities increased and 3 provinces remained unchanged compared to 2022. Lai Chau changed by the largest margin, decreasing the cost of living by 15 places. The centrally-run city has a higher cost of living than the mountainous province, mainly in the groups of education, housing, entertainment and tourism services.
The General Statistics Office assessed that in 2023, the domestic economy will still be affected by many global factors, such as declining aggregate demand and extreme weather. Domestically, the Government has taken many measures to manage and regulate prices, helping to control inflation at 3.25%. Consumer goods are abundant, so prices in localities do not fluctuate much.
First published in 2015, SCOLI is important in planning socio-economic development policies, evaluating poverty reduction results, wage subsidies, and is the basis for calculating the Human Development Index (HDI) and Gross Regional Domestic Product (GRDP). Enterprises can use this index to evaluate competitiveness related to price, market share, product costs, etc.
TH (according to VnExpress)Source
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