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Hanoi tops Vietnam in cost of living

Hanoi tops Vietnam in cost of living

Friday, March 31, 2023, 11:42 GMT+7
Hanoi tops Vietnam in cost of living
Essential food products in Ho Chi Minh City are cheaper than those in Hanoi. Photo: Quang Dinh / Tuoi Tre

The cost of living in Hanoi was the highest in Vietnam in 2022, followed by northern Quang Ninh Province and Ho Chi Minh City, according to a report released by the General Statistics Office on Wednesday.

This is the second consecutive year that the capital has taken the top position in the country’s Spatial Cost of Living Index.

Central Vietnam’s Da Nang and Ba Ria – Vung Tau Province in the southern region ranked fourth and fifth, respectively.

The Spatial Cost of Living Index 2022 also showed that Quang Tri Province in north-central Vietnam reported the lowest cost of living, followed by the Mekong Delta provinces of Tra Vinh, Ben Tre, and Soc Trang and the northern province of Nam Dinh.

These provinces had low prices of food and catering services; apparel, hats, and footwear; housing; household appliances; transport services; postal and telecom services; education services; and entertainment services.

The Spatial Cost of Living Index reflects the gap in the prices of consumer goods and services among localities nationwide.

When buying the same product, if residents in Hanoi have to pay VND100 each, those in Quang Tri have to pay VND86.8 each.

In addition, the prices of some consumer goods and services in Ho Chi Minh were lower than those in Hanoi. For example, the prices of apparel, hats, and footwear in the southern metropolis were equal to 78.07 percent of those in Hanoi; cultural, education and tourism services, 91.72 percent; and household appliances, 94.43 percent.

The General Statistics Office explained that the lower prices of some essential commodities in Ho Chi Minh City were thanks to abundant supplies and better demand and supply connections.

The office calculated the Spatial Cost of Living Index of localities based on the prices of 11 key consumer goods and service groups, including food and catering services; medicines and healthcare services; apparel, hats, and footwear; housing, electricity, utilities; building materials; household appliances; education services; transport services; culture, entertainment, and tourism services; and other goods and services.

In terms of regions, the Red River Delta in northern Vietnam had the highest cost of living in 2022, followed by the northern midland and mountainous, southeastern, north-central and central coastal, Central Highlands, and Mekong Delta regions.

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Thanh Ha - Bao Ngoc / Tuoi Tre News


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