VIETNAM: Supermarket Prices Rocket

http://www.kamcity.com/namnews/asp/newsarticle.asp?newsid=39871

Supermarket prices in Ho Chi Minh City, Vietnam, have risen 10-15% over the last week on the back of petrol price hikes and increased transportation costs. The director of Ho Chi Minh City ‘s Big C Mien Dong supermarket, Dao Vinh Thai, said the prices of some 50 products, particularly meat, fish, shrimp and cooking oil, have increased from 5 to 15% this week. Other supermarkets in the city, including Maximark and Sai Gon Co-op, have also announced price increases. Sai Gon Co-op is said to have raised the price of more than 300 items.

The price of fresh produce at Co-op Cong Quynh supermarket has climbed 10%, while the prices of frozen and dried food are up by 15 and 10-20%, respectively. Co-op Cong Quynh management were quoted as saying that the price hikes were unavoidable, and expected to increase further in the next few days. Food suppliers started jacking up prices at the beginning of last month, citing higher transport and labour costs in tandem with restrictive banking conditions.

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