Many coffee shops and restaurants have raised their prices following the new lunar year.
Price gouging 20% increases for basic goods
Coffee shops in Tran Hung Dao Street, Hanoi have exploited the festive period to raise prices by 20% since the 29th of the lunar December, 2012, to the 6th of the lunar January, 2013 (February 09-16).
Coffee shop staff claimed it was very difficult to hire employees during the Tet holiday, therefore, the manager had to offer higher wages for people working during the period.
Nam who works at a coffee shop on Tam Trinh Street said his shop had opened during Tet and he’d decided to raise prices by 30% while claiming it hadn’t affected the number of customers.
“Just few shops open during Tet. Our coffee shop has been full of customers since the first day of the lunar new year. Most of them are younger people,” he added.
Food prices in cheaper street places are two to three times higher than normal.
A bowl of crab soup noodle is being sold at an extortionate VND45,000 (USD2.14) compared to just VND20,000 before Tet, but the restaurants have remained crowded.
“If anyone who complains about high prices, they can find a cheaper place. Most of people have stopped work to enjoy Tet, except for us. So we’re using this chance to earn money,” a noodle seller said.
In Hanoi, many noodle restaurants have announced to raised bowls of noodles to VND15,000.
Restaurants remained crowded despite extortionate prices
Restaurant owners also explained that the higher prices were attributed to the price increases in chicken, meat and beef.
Lien, owner of a restaurant in Nguyen Luong Bang Street, said a kilo of beef was currently sold at between VND250,000 and VND270,000, compared to VND200,000 and VND220,000 before Tet.
According to Lien, the price gouging would eventually return to normal.
