Consumer spending in Ho Chi Minh City and Hanoi is the most expensive in the country.
According to the information just announced by the General Statistics Office on the spatial cost of living index (SCOLI), in 2018, Ho Chi Minh City was the locality with the highest price in the country and Hanoi ranked second.
The SCOLI index by province and centrally run city is calculated based on comparison with the average price level of Hanoi. Accordingly, the price level of Ho Chi Minh City is 101.47% compared to Hanoi.
The average price of goods in Ho Chi Minh City is generally similar to that in Hanoi, but the education group is 14.46% higher in the group of 11th grade public school tuition fees and secondary school tuition fees.
The post and telecommunications group is also higher than Hanoi with 103.97% mainly in the mobile phone and phone repair group.
Da Nang ranks 3rd in the country, equal to 97.81% compared to Hanoi. Most of Da Nang's product groups are similar to those in Hanoi. Particularly, Da Nang's kindergarten and technical vocational school tuition fees are 25% - 30% lower than in Hanoi.
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| Shopping at Ben Thanh market, Ho Chi Minh City. Photo: TTO |
Compared to 2017, the locations of the most expensive provinces in 2018 have not changed much. However, the provinces in the Northern midlands and mountainous regions have gradually become cheaper than in previous years due to increasingly convenient transportation.
Provinces and centrally-run cities are more expensive than mountainous provinces, mainly in the service, entertainment and tourism groups.
Some provinces have low prices such as Hau Giang, which has the lowest SCOLI index in the country at only 90.5% compared to Hanoi. Next is Dong Thap, with a SCOLI index of 90.67% compared to Hanoi. Tra Vinh is the province behind Hau Giang and Dong Thap with a SCOLI index of 90.84% compared to Hanoi.
In general, the provinces with the lowest prices in the country are largely due to the prices of items in the food and beverage group, food services and other categories such as education and health services, home repair services, and other entertainment services having lower prices than Hanoi.
The localities with the most fluctuating prices according to the General Statistics Office include 26 provinces, of which the provinces with the strongest increase or decrease are Thua Thien - Hue, Quang Ngai, Binh Dinh, Dak Lak, Vung Tau, Long An, Quang Tri, Thai Binh, Yen Bai, Lai Chau, Bac Kan, Cao Bang.
Some provinces have prices higher than last year such as: Cao Bang, Bac Kan, Yen Bai, Vung Tau, Long An, Hai Phong, Nghe An from 5 to 7 levels... mainly more expensive in service items.
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Next is the Northern midland and mountainous region with 5 commodity groups with high average prices, because this is an area that cannot produce goods so they have to be transported, causing transportation costs to increase.
The Mekong Delta has the lowest SCOLI index in the country when there are 10 groups with average prices lower than...
