That's how many people react to the news of rising prices for goods leading up to the Lunar New Year. Actually, the term "price range" is more commonly used in stock trading, while the term "Tet price range" can be understood as the price increase of most goods during the Tet holiday. Just look at the market in early December and early November of this year to see: "vegetables are in high demand, and gold prices are rising"...
The increase in vegetable prices is primarily due to heavy rains and strong winds about two months before Tet (Lunar New Year), which damaged, crushed, or flooded many vegetable crops across the country. Farmers have already planted a new crop of vegetables to be released onto the market closer to Tet. Gold, a commodity that fluctuates frequently, is also rising in price near Tet this year, both domestically and internationally, signaling new price ranges. In addition, many other consumer goods have also seen new prices compared to the third quarter of the year. It's Tet! Demand for all goods increases, so higher prices than usual are to be expected!
Everyone understands that price increases during the Lunar New Year are inevitable. However, many people are worried. While the economy recovered and developed in 2022, many businesses struggled in the final months of the year, lacking new orders due to the difficulties of the global economy following the pandemic and armed conflicts in some parts of the world. As a result, hundreds of thousands of people lost their jobs or had their working hours reduced, meaning their income decreased or disappeared during the final months of the year. Meanwhile, while agriculture helps people in many regions secure food, purchasing additional goods and supplies for a more fulfilling Lunar New Year celebration is not easy…
Price control and market stabilization efforts during the year-end and Tet (Lunar New Year) holidays have been actively undertaken by various ministries and agencies under the direction of the Government. Many solutions have been implemented for essential consumer goods, contributing to limiting inflation and stabilizing consumer and business sentiment. However, these measures only apply to goods that the State can control and regulate. Many other goods are subject to fluctuations in the global market, and items like vegetables and fish are difficult to control. Therefore, while prices may increase during Tet, consumption levels depend on each individual's budget.
Article by: Nguyen Nguyen
Illustrative image: Archival material
