Inflation control, the foundation of consumer recovery
According to a report by the Statistics Office (Ministry of Finance), for the whole year 2025, the consumer price index increased by 3.31% compared to 2024, continuing to be within the inflation control target set by the National Assembly and the Government.
CPI developments in the year show a mixed upward and downward trend, closely following seasonal consumption patterns and domestic and international price fluctuations. In 2025, CPI had 11 months of increase and 1 month of decrease compared to the previous month.
According to Ms. Nguyen Thu Oanh, Head of Service and Price Department, Statistics Office, the pressure to increase CPI in 2025 mainly came from the food and food service group increasing by 3.27%, along with the housing, electricity, water, fuel and construction materials group increasing by 6.08%. Household electricity prices increased by 7.2% due to high electricity demand and the adjustment of average retail electricity prices in October 2024 and May 2025. The price index for medicine and medical services increased by 13.07%, while the education group and equipment and household goods group increased slightly.
Meanwhile, the transportation group and the information and communication group are factors contributing to curbing the CPI increase in the year.
The upward and downward trend between commodity groups shows that the CPI in 2025 is heavily influenced by input costs and public service price adjustments, while inflationary pressure is not too great.
Ms. Nguyen Thu Oanh said that to maintain CPI at a reasonable level, the Government has drastically managed, synchronously coordinated fiscal and monetary policies, flexibly managed interest rates, exchange rates and reasonable credit growth, and at the same time tightly controlled prices of goods managed by the State such as healthcare and education. In the context of storms and floods greatly affecting production and circulation, ensuring the supply of goods, food, and market stabilization plays an important role in price stabilization.
Domestic consumption recovers
Data from the Statistics Office shows that for the whole year 2025, the total retail sales of goods and consumer service revenue at current prices are estimated at about 7,000,000 billion VND, an increase of 9.2% compared to 2024. Excluding price factors, retail sales and consumer service revenue increased by 6.7%, equivalent to the increase of the previous year, showing that domestic purchasing power has gradually improved but is still cautious.
Regarding market demand, Mr. Minh Thang, manager of a large supermarket in Tay Ho - Hanoi, said that from about November to the end of December 2025, the number of customers coming to shop has increased significantly, especially on weekends and peak hours. Consumer shopping trends mainly focus on food, fast-moving consumer goods and items serving daily life. Consumers compare prices more carefully, prioritize promotional products and are willing to spend more on food, fresh food and items serving holidays and Tet.
A notable highlight in the consumer market in recent years is the promotion of connection between traditional trade and e-commerce, thereby expanding the multi-channel shopping ecosystem, from supermarkets, markets, shopping centers to e-commerce platforms. This approach helps consumers access quality goods at more reasonable prices, while supporting the promotion of Vietnamese brands and expanding outlets for domestic businesses. Along with that, consumer stimulus policies are also promoted.
Mr. Le Hoang Tai, Deputy Director of the Trade Promotion Agency (Ministry of Industry and Trade) said that year-end consumer stimulus programs aim to bring the total retail sales of goods and consumer service revenue to increase by about 12% in the year, thereby supporting businesses to accelerate production and business.
According to Mr. Tai, with the synchronous coordination of 34 local Departments of Industry and Trade, industry associations and the business community, the National Focused Promotion Program 2025 is expected to create a strong synergistic effect, contributing to the GDP growth target set by the Government.
