Essential goods become cheaper despite fuel price hike

Fruit and vegetable prices have dropped by VND500-1,000 a kilogram. (Photo: SGGP)

A week after fuel prices went up, the prices of essential commodities remain stable, with some even falling on high supply.

At Co.opMart supermarket, the prices of kitchen implements and electronic goods are set to be cut by 35-40 percent from July 8.

BigC supermarket has also announced a promotion with the prices of 300 products to be reduced by up to 50 percent.

Household goods will be down by 30-50 percent, stationery and toys by 42 percent, and shoes and clothes by more than half.

At Thu Duc agriculture wholesale market, fruit and vegetable prices have dropped by VND500-1,000 a kilogram.

Nguyen Thanh Ha, the market’s deputy director, said the increase in fuel prices has not affected the prices of agriculture products, adding that most sellers have decided to reduce their profit margins to keep prices stable.

Most supermarkets report that revenues have fallen by 20 percent this year.

In related news, the Ho Chi Minh City Department of Industry and Trade has announced it will hold a trade fair from September 1 to 30 to stimulate demand.

By Th. Hai – Translated by Thuy Doan

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