Wages increase, prices of many consumer goods also increase

From the beginning of July, Decree 24/2023/ND-CP of the Government regulating the basic salary for cadres, civil servants, public employees and armed forces officially took effect. Accordingly, the basic salary increased to 1.8 million VND for 9 groups of subjects.

People buy chicken at Bien Hoa market. Photo: Hai Quan

However, many workers have not yet had time to be happy about the salary increase before having to calculate and rebalance their spending appropriately in the context of prices of many consumer goods remaining high, with some items even increasing in price over the past month.

* Many items have high prices

According to the Dong Nai Statistics Office, in July, the consumer price index of food products increased by 0.37% compared to the previous month. The reason was due to the impact of the increase in live hog prices, causing the price of pork products in July to increase by 0.7%; the price of poultry products increased by more than 1%; and the price of fresh seafood products increased by nearly 0.7% compared to June 2023. Similarly, the price of fresh vegetables, dried and processed foods increased by 0.62% compared to June.

Due to heavy rains, many types of vegetables were damaged, causing the supply to the market to decrease, which also caused prices to increase. Surveying traditional markets in Bien Hoa City, prices of many types of food such as chicken, green vegetables, aquatic products, and seafood have increased by 10-25% in the past month.

According to the Dong Nai Statistics Office, the transport group price index in July 2023 increased by 0.12% compared to the previous month, contributing to the overall CPI increase in the month by 0.01%. During the month, prices of public transport services increased by 5.13%, prices of passenger transport by rail increased by 3.96%, passenger transport by air increased by 26.17%...

Ms. Thuy Linh, a chicken trader at Bien Hoa market, said that the prices of chicken meat have increased quite a lot in the past month. For example, the price of ready-made industrial chicken thighs increased by 10-15 thousand VND/kg, up to 75-80 thousand VND/kg; industrial chicken breasts increased by 10 thousand VND/kg, up to 70 thousand VND/kg. Meanwhile, purchasing power has decreased significantly.

Ms. Nguyen Thi Xuan Trang, a vegetable and fruit stall owner at Tan Bien market (Bien Hoa city) said that this year, business is slower than every year, partly because of the high volume of imported Chinese agricultural products causing saturation, and partly because people are tightening their spending. Although sales are slow, the prices of vegetables and fruits at the stall still depend on the supply situation and the gardeners. Currently, the prices of some vegetables and fruits have slightly increased, such as: Da Lat cabbage 10,000 VND/kg, Chinese cabbage 12,000 VND/kg, potatoes 17,000 VND/kg...

“If the market price increases, we have to increase it according to the farmers, we cannot adjust it. Especially in the rainy season like the past few days, the price of vegetables and fruits increases by about 20-30% compared to normal weather conditions. For example, cabbage was 6-7 thousand VND/kg last month, but now it is 10 thousand VND/kg,” said Ms. Xuan Trang.

Similarly, Ms. Nhu Hoa, a seafood trader at Hoa An market (Bien Hoa city) shared that the prices of many seafood products increased by 10-15% compared to the beginning of July, including mackerel priced at 280,000 VND/kg, squid priced at 180-250,000 VND/kg, silver pomfret priced at 100,000 VND/kg, pink fish priced at 110,000 VND/kg, salmon heads priced at 80,000 VND/kg...

* Spending worries as prices continue to rise

While the price level of many consumer food items remains high, in the two recent retail price adjustments, the prices of gasoline and oil have continuously increased sharply. Of which, the price of gasoline increased by nearly 2,500 VND/liter, the price of diesel and kerosene also increased by nearly 2,000 VND/liter compared to mid-July, not to mention the retail gas price also increased again since the beginning of August.

Consumers look at powdered milk at a milk stall in Hoa An market (Bien Hoa city)

The recent increase in fuel and transportation prices has greatly affected the supply chains of goods, pushing up the prices of some packaged products, milk, and consumer goods.

Ms. Nguyen Thi Mai, owner of a milk stall at Hoa An market (Bien Hoa city) said: "The price of many types of powdered milk has increased by about 10-15% with an increase of 20-30 thousand VND/box in the past month. The reason for the price increase according to many suppliers is due to the increase in raw material and transportation costs."

Many consumers are concerned that consumer prices will continue to increase in the coming time, greatly affecting the spending needs of many families, especially as the new school year approaches.

Ms. Dang Thuy Anh (Quang Vinh Ward, Bien Hoa City) said that although the basic salary was adjusted to increase from July 1, she did not dare to be happy because as a rule, the prices of some goods will "follow the rain", especially in the context of the recent high gas and gasoline prices. Not counting non-essential services such as haircuts, beauty salons, entertainment, eating and drinking, food and food are essential, basic daily needs. Meanwhile, management agencies cannot go to each place to inspect and "impose" vegetable and meat vendors to increase or decrease prices.

Prices of many types of green vegetables have increased recently due to complicated weather and heavy rain. In the photo: A stall selling green vegetables at Tan Bien market (Bien Hoa city)

“Some retailers and food service providers decide on their own prices for the items they sell or “hiddenly increase prices” with the mentality that if consumers’ wages increase, they will also increase their prices. This mentality can become a trend, everyone looks at others adjusting their prices to increase accordingly. At that time, the price of this item will affect the price of other items, only consumers will suffer when spending is tightened in this situation,” Ms. Thuy Anh confided.

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