According to the latest report from the General Statistics Office – Ministry of Finance, the Consumer Price Index (CPI) in November 2025 increased by 3.28% compared to December 2024 and by 3.58% year-on-year. Over the first 11 months, CPI rose by 3.29%, with core inflation at 3.21%. These figures highlight persistent price pressures, evident in the daily expenses of citizens, particularly in major urban areas.
“Every Penny Counts”
Recent observations in Ho Chi Minh City reveal significant price hikes for meat, eggs, and other essentials in both traditional markets and supermarkets.
While vegetable prices have eased post-flooding, they remain high, inflating household food costs, especially as the year-end shopping season begins. Many families are adjusting their shopping habits—opting for cheaper meat cuts, using more frozen foods, hunting for promotions, or shopping during discount hours—to ease financial strain.
Many families are adjusting their shopping habits to reduce consumer spending. Photo: TẤN THẠNH
From a business perspective, Mr. Phan Văn Dũng, Deputy General Director of Vietnam Livestock Technical Industry Joint Stock Company (VISSAN), noted that the piglet price used for stabilizing meat prices in early November 2025 was 56,000 VND/kg, but the company had to purchase at 59,000 VND/kg. Prices are expected to rise to 60,000-65,000 VND/kg by Tet, increasing retail pressure. VISSAN pledges to adjust prices only when input costs rise by 5% or more.
Mr. Dũng predicts a 5%-10% drop in Tet purchases due to economic challenges. VISSAN is “calculating every penny,” cutting unnecessary costs, and urging suppliers to plan price increases carefully.
This year, VISSAN launched new products like pork fat, catering to the return to traditional foods after low-quality cooking oil scandals. Mini fried sausages and mini wieners are also promoted with strong discounts to boost demand.
Ms. Lý Kim Chi, Chairwoman of the Ho Chi Minh City Food and Foodstuff Association (FFA), notes that businesses face “dual pressures.” They must ensure stable supplies to maintain prices and rebuild consumer trust amid production disruptions and widespread low-quality goods. Despite challenges in exchange rates, interest rates, and transportation costs, many companies are striving to keep prices stable. “No matter how difficult, we must persevere—it’s our responsibility to the community and our long-term strategy,” she emphasized.
According to the FFA Chairwoman, current price increases are concentrated in fresh foods, especially vegetables. Meat, eggs, and processed goods remain relatively stable. Encouragingly, most businesses are sharing the burden. Major retailers like Co.opmart, Winmart, GO!, Satra, AEON, and MM Mega Market have increased reserves by 20%-30% compared to last year, ensuring market stability.
Companies participating in price stabilization programs have finalized Tet plans, offering prices 5%-10% below market rates. These companies account for 25%-43% of market share during peak months, effectively leading overall pricing.
A Comprehensive Solution is Needed
At last week’s regular government meeting, Prime Minister Phạm Minh Chính stressed ongoing economic challenges, particularly inflation and exchange rate pressures.
The Prime Minister tasked the Ministries of Finance, Industry and Trade, and Agriculture and Environment with close coordination to monitor market dynamics, ensuring supply-demand balance and price stability, especially year-end. Proactive measures are required to prevent shortages, price surges, hoarding, or unreasonable price hikes.
The Ministry of Industry and Trade must focus on domestic market development, particularly e-commerce; ensure essential goods supply; expand consumer stimulus programs, promotions, and discounts; and organize fairs to leverage year-end shopping. The ministry must also review tax exemptions, combat smuggling, and prevent trade fraud.
Regarding monetary policy, Deputy Governor of the State Bank Phạm Thanh Hà noted that while global inflation has eased, risks remain, potentially impacting domestic monetary stability. The State Bank will continue proactive, cautious management, implementing measures to control inflation and support economic growth.
Deputy Governor Phạm Thanh Hà stated that the State Bank will closely monitor macroeconomic trends, domestic and international financial markets, especially the US Federal Reserve’s interest rate decisions. Based on this, the bank will flexibly use monetary policy tools, coordinating with fiscal policies to ensure credit institution liquidity, stabilize currency markets during year-end peaks, maintain macroeconomic stability, and support growth.
Economist Assoc. Prof. Dr. Ngô Trí Long advocates for a robust, comprehensive solution to control inflation. Exchange rate management must be flexible yet goal-oriented. When businesses and citizens trust exchange rate stability, foreign currency hoarding will decrease.
For state-managed goods like fuel and electricity, predictable management scenarios should be developed to avoid abrupt price adjustments. Tax and fee tools should be considered to ease pressure during sensitive periods. Proactive, visionary management will stabilize market expectations.
“For agricultural and food products, the government must collaborate with localities to swiftly restore post-disaster production, reorganize cultivation areas, and supply chains. For locally scarce goods, flexible imports can supplement supply, cool markets, and prevent hoarding and price manipulation. Price stabilization systems in major cities must enhance regulation during Tet peaks,” suggested Assoc. Prof. Dr. Ngô Trí Long.
Building Consumer Trust
Ms. Lý Kim Chi stated that FFA is partnering with organizations to encourage industry businesses to participate in formal sales events, assuring consumers of clear product origins. Notable events include Shopping Season 2 with over 50% discounts, City Sale 2, Green Tick Responsibility Month at 12 major retailers, and the National Promotion Program.
FFA members are enhancing traceability, tightening quality control from raw materials, and ensuring transparency in standards and certifications. Where possible, companies should open factories to consumers and partners to showcase production processes, effectively building trust. “Consumers should prioritize reputable companies and products with e-labels, QR codes, and transparent traceability systems, rather than focusing solely on low prices,” Ms. Lý Kim Chi emphasized.
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