Nghe An: January consumer price index increases from spending demand during Lunar New Year 2023

Commercial establishments organize promotions and discounts to attract shoppers. The market of goods with a wide variety of types and guaranteed quality, meets the needs of consumers.

According to Nghe An Statistics Office, total retail sales of goods and consumer service revenue in January 2023 is estimated at VND 11,997.2 billion, up 22.99% over the previous month and 10.8% over the same period last year.

High consumer demand during Tet pushed retail sales up compared to the previous month. Photo: Thu Huyen

Retail sales of goods in January 2023 are estimated at VND 10,249.8 billion, accounting for 85.43% of total retail sales of goods and services, up 24.89% over the previous month and up 10.27% over the same period last year.

There are 12 industry groups that all increased compared to the same period, including: Food and foodstuffs estimated at 3,232.9 billion VND, up 12.16%; Garments estimated at 573.4 billion VND, up 7.14%; Household appliances and tools estimated at 697.6 billion VND, up 3.93%; Wood and construction materials estimated at 633.8 billion VND, up 2.29%; Automobiles of all kinds estimated at 2,412.5 billion VND, up 1.01%; Means of transport (excluding automobiles, including spare parts) estimated at 454.8 billion VND, up 0.5%; Gasoline and oil of all kinds estimated at 1,398 billion VND, up 47.53%; Other fuels (excluding gasoline and oil) estimated at 79.7 billion VND, up 30.52%; Gems, precious metals and products are estimated at 49.4 billion VND, up 1.84%; Other goods are estimated at 328.1 billion VND, up 0.63%; Repair of motor vehicles, motorcycles and motorbikes is estimated at 330.9 billion VND, up 8.73%.

At the end of the year, key businesses have plans to stockpile goods, implement market stabilization programs, and meet people's needs. Photo: Thu Huyen

Revenue from accommodation and food services is estimated at VND 1,007.6 billion, accounting for 8.40% of total retail sales of goods and services, up 15.85% over the previous month and down 7.81% over the same period last year. Of which: Revenue from accommodation services is estimated at VND 86.3 billion, up 7.50% over the previous month and down 16.14% over the same period last year; revenue from food services is estimated at VND 921.2 billion, up 16.70% over the previous month and down 6.95% over the same period last year.

Revenue from tourism services in January 2023 is estimated at VND 2.9 billion, accounting for 0.02% of total retail sales of goods and services, up 6.6 times over the same period last year. Due to the strong recovery of tourism activities after 2 years of being affected by the Covid-19 pandemic, especially domestic tourism.

Graphics: Huu Quan

Activities of other service industries in January 2023 were estimated at VND 736.9 billion, accounting for 6.15% of total retail sales of goods and services, up 9.93% over the previous month, up 67.76% over the same period last year. Activities of service industries in January increased compared to the previous month and increased sharply compared to the same period last year; computer repair services, personal and family services, laundry services, hair cutting and shampooing services saw strong demand at the end of the year.

Consumer price index: January 2023 is the Lunar New Year month of Quy Mao, so people's shopping demand increases, prices of essential goods and services increase according to the law of consumption during Tet. The consumer price index in January 2023 increased by 0.77% compared to the previous month, and by 3.81% compared to the same period last year.

Retail sales of consumer goods and services are bustling at the end of the year. Photo: Thu Huyen

Of the 11 groups of goods and services, 8 groups had indexes that increased compared to the previous month: Beverages and tobacco increased by 2.16%; transportation increased by 1.55%; food and catering services increased by 1.33%; other goods and services increased by 0.88%; clothing, hats, shoes, and sandals increased by 0.73%; culture, entertainment and tourism increased by 0.43%; household equipment and appliances increased by 0.42%; post and telecommunications increased by 0.26%. There were 2 groups of goods with indexes that remained the same compared to the previous month: medicine and medical services; education. There was one group of goods with an index that decreased: housing, electricity, water and construction materials decreased by 0.40%.

The gold price index increased by 1.08% compared to the previous month and by 1.78% compared to the same period last year. Domestic gold prices fluctuated in the same direction as world gold prices.

The US dollar index fell 1.64% month-on-month and 2.10% year-on-year,