Buying food at markets, not supermarkets. Canceling house construction. Cutting down on going shopping. Vietnamese people are doing anything they can to reduce spending in the age of inflation.
Kieu Thi Minh Yen from Tan Binh District, HCM City, has stopped buying food at supermarket to go to markets to save several thousands of VND from vehicle keeping fee and around 3-10% of food prices. She said each time going to market, she can save VND10,000-12,000 compared to going to supermarket.
“Previously I rarely bought food at market, especially small markets because I’m afraid of food hygiene but now I have to try to change my habit to cut down spending because the price at supermarkets is higher than at traditional markets,” she said.
Yen’s family has tried to cut down spending on three items: electricity, water, and telephone. However, it is more important to cut down spending on food because food prices rise at the highest level.
Thien Kim, a staff from a college in HCM City, said she only spends on essential demands of her family, not buy anything else.
“In the past, whenever being invited to a wedding party or any event, I got used to buy a new dress or a new pair of shoes. If I do it now, I will surely incur a debt,” Kim complained.
Kim’s family has to cancel building their house as well. “Accommodation is an urgent need but we don’t dare to borrow money because banking interest rate is very high. We are afraid that after finishing the construction, we have to sell the house to pay debt,” said Kim’s husband named Ha.
Ha has to do extra jobs to earn some more money but he worried that if price keeps increasing, how can his family can stand.
Pham Thi Hien, an employee of a company on Nguyen Thi Thap road, District 7, HCM City, said previously her six-member family spent around VND2-3 million per month. She now spends VND5 million a month but it is not enough.
The escalation of food price has affected the meal of many families in Hanoi.
As her salary doesn’t increase, Trinh in Tu Liem District doesn’t feel comfortable when a kilo of tomato soars to VND12,000, nearly doubling the price at the same period of last year. The prices for other kinds of vegetables and meat also increase highly and they change day by day.
Last afternoon she bought field crab for VND45,000/kg, which rose to VND50,000 the next day. As her children are about to take an exam, she doesn’t dare to cut down food ration.
As inflation has heat each family’s meal, Prime Minister Nguyen Tan Dung’s call for cutting down spending on March 30 causes special attention.
Dr. Nguyen Minh Phong, Head of the Economic Research Department under the Hanoi Institute for Economic and Social Research, said food accounts for up to 70% of the goods basket to calculate the consumer price index (CPI). The Government’s call of practicing thrift is reasonable.
“However, cutting down spending is the last measure because Vietnamese people are still poor so accommodation, food, and clothing are the essential needs,” Phong emphasized.
Minh, a retired man from Nam Dong Ward, Hanoi, said the Government’s call of cutting down spending at families and agencies is necessary but for the people, they have saved on anything they can
Kieu Thi Minh Yen from Tan Binh District, HCM City, has stopped buying food at supermarket to go to markets to save several thousands of VND from vehicle keeping fee and around 3-10% of food prices. She said each time going to market, she can save VND10,000-12,000 compared to going to supermarket.
“Previously I rarely bought food at market, especially small markets because I’m afraid of food hygiene but now I have to try to change my habit to cut down spending because the price at supermarkets is higher than at traditional markets,” she said.
Yen’s family has tried to cut down spending on three items: electricity, water, and telephone. However, it is more important to cut down spending on food because food prices rise at the highest level.
Thien Kim, a staff from a college in HCM City, said she only spends on essential demands of her family, not buy anything else.
“In the past, whenever being invited to a wedding party or any event, I got used to buy a new dress or a new pair of shoes. If I do it now, I will surely incur a debt,” Kim complained.
Kim’s family has to cancel building their house as well. “Accommodation is an urgent need but we don’t dare to borrow money because banking interest rate is very high. We are afraid that after finishing the construction, we have to sell the house to pay debt,” said Kim’s husband named Ha.
Ha has to do extra jobs to earn some more money but he worried that if price keeps increasing, how can his family can stand.
Pham Thi Hien, an employee of a company on Nguyen Thi Thap road, District 7, HCM City, said previously her six-member family spent around VND2-3 million per month. She now spends VND5 million a month but it is not enough.
The escalation of food price has affected the meal of many families in Hanoi.
As her salary doesn’t increase, Trinh in Tu Liem District doesn’t feel comfortable when a kilo of tomato soars to VND12,000, nearly doubling the price at the same period of last year. The prices for other kinds of vegetables and meat also increase highly and they change day by day.
Last afternoon she bought field crab for VND45,000/kg, which rose to VND50,000 the next day. As her children are about to take an exam, she doesn’t dare to cut down food ration.
As inflation has heat each family’s meal, Prime Minister Nguyen Tan Dung’s call for cutting down spending on March 30 causes special attention.
Dr. Nguyen Minh Phong, Head of the Economic Research Department under the Hanoi Institute for Economic and Social Research, said food accounts for up to 70% of the goods basket to calculate the consumer price index (CPI). The Government’s call of practicing thrift is reasonable.
“However, cutting down spending is the last measure because Vietnamese people are still poor so accommodation, food, and clothing are the essential needs,” Phong emphasized.
Minh, a retired man from Nam Dong Ward, Hanoi, said the Government’s call of cutting down spending at families and agencies is necessary but for the people, they have saved on anything they can
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