Prices of various consumer goods are predicted to increase at the end of the lunar year, an official of the Ministry of Finance (MoF) has said.

Customer purchases pork at a market in the northern province of Bac Ninh
(Photo: VNA) 

Head of the Department of Price Management under the MoF Nguyen Anh Tuan said prices of food stuff, consumer goods, garment-textile and footwear will surge due to rising demand in the period.

Pork prices tend to increase because of the short supply as a result of the African swine fever, while those of oil and gas remain unpredictable as they depend on the fluctuations of average prices in the world market, he added.

Relevant agencies are keeping a close watch on prices for prompt intervention, especially those of necessaries.

The MoF has ordered inspection on the implementation of legal regulations on price management. It has also requested the Ministry of Industry and Trade and the Ministry of Agriculture and Rural Development to instruct agencies to increase the import of pork to meet consumers’ demand.