Vegetable and fruit prices have highly increased in HCMC because heavy rain triggered flooding has submerged thousands of hectares of crops in the Central Highlands and the central region for the last couple of days.
|Heavy rains have flooded thousands of hectares of vegetable crops in the Central Highlands. The photo shows a field in Gia Lai province (Photo: SGGP)|
The unfavorable weather condition has reduced supply and hiked prices since October, reported deputy chairwoman of the HCMC Department of Industry and Trade Nguyen Huynh Trang at a meeting, chaired deputy chairman of the city People’s Committee Tran Vinh Tuyen yesterday.
However the supply shortage and price surge is forecast to not extend long as production will be resumed in flooding affected provinces and broadened in other areas of the country to meet high demand in the lead of the Tet holidays, she added.
The supply sources of pork, poultry, sugar, egg and rice have been abundant so there will no price fluctuation from now until the end of the year.
In October, the consumer price index soared 0.62 percent against the previous month with eight out of 11 groups of commodities seeing price up and three down.
According to Ms. Trang, the index increase was due to the hike of 2.27 percent in traffic group because of up petrol price. Education saw an increase of 2.05 percent after tuition levels started rising for nursery and vocational schools in the month.