Despite the economic challenges that significantly impacted the industrial production index, the city’s total retail sales of goods and services still exceeded expectations in 2023, surpassing 198 trillion VND, marking a notable increase of 13.34% compared to the same period. Many production, business, trade, and service entities exploited the market’s purchasing power effectively. The city actively implemented numerous solutions to promote trading and stimulate consumption in response to these challenges.
In 2023, the prices of a majority of commodities experienced an increase, primarily influenced by the escalation of base wages and the rise in gasoline and oil prices. Many comprehensive measures were implemented to stabilize market prices and mitigate inflation. As a result, the city’s average Consumer Price Index (CPI) for the 12 months of 2023 increased by 3.66% compared to the previous year.
Thanks to these efforts, several pivotal trade and service industries in the city experienced growth that exceeded the planned targets, making a substantial contribution to the city’s overall socio-economic development./.
