HANOI: Though the consumption and use of services have increased compared to the peak of the Covid-19 pandemic, consumer demand is still low while commodity prices have reached a new height.

According to experts, as input costs for raw materials, labour and gasoline price rises, incomes have stagnated or even decreased. With commodity prices rising, this is creating a “price storm” for families.

Working as a fruit transporter at the Long Bien wholesale market in Hanoi, Nguyen Van Nam, 34, said: “There were almost no jobs during the pandemic, we have jobs to do now, but our income has not increased. We just have enough to cover daily living.”

His wife, Nguyen Thu Hien, added: “The rent, food, transportation, shopping prices increased, so the family’s spending must be very economical.

“When the new school year comes, it’s very difficult to pay for textbooks and school fees for the children, so it is generally extremely difficult. If the prices of things return to the same as before the pandemic, people will feel relieved.”

Many services have experienced a reduction in the number of visitors. Many restaurants, eateries, entertainment services, and healthcare closed since the pandemic has not yet reopened. Some that tried to reopen closed again a few months later to expensive costs and a decrease in customers.

Dang Quang Tung, a former owner of a crowded fish noodle shop in Luong Dinh Cua Street in Hanoi, said since the beginning of the year, the number of customers has decreased. At the same time, prices for raw materials and workers’ wages increased, making him lose millions of dong every day.

“I kept the restaurant running until April and had to close to move to another job,” Tung said.

“Doing business is very difficult now because people’s income is very low, the cost of everything is so high that every home has to consider living.”

 - ANN