Household equipment and appliances prices increased by 1.49 percent in December 2024 compared to December 2023, according to Vietnam’s Consumer Price Index. Month-on-month, prices rose slightly by 0.17 percent from November.
Over the full year, prices for household equipment and appliances showed an overall increase of 1.27 percent compared to 2023, indicating a modest growth trend for the sector.
The CPI for household equipment and appliances in Vietnam measures price changes in items such as furniture, kitchenware, electrical appliances, and other household goods. This category is an important component of Vietnam’s overall CPI, reflecting the growing middle class, rising disposable incomes, and urbanisation trends that drive demand for home improvement and modern living.
In recent years, the CPI for household equipment and appliances has remained relatively stable, with modest increases influenced by several factors. The availability of competitively priced goods, including imports from China and other neighbouring countries, has helped keep prices affordable. Additionally, rising competition among domestic and foreign brands in Vietnam’s retail market has encouraged promotional campaigns and discounts, further moderating price pressures.
However, global supply chain disruptions, currency fluctuations, and rising production costs have occasionally caused temporary price increases, particularly for imported items or products with high material costs. Vietnam’s expanding e-commerce sector has also impacted pricing trends, as online platforms offer greater price transparency and competitive deals on household goods.
As Vietnam’s economy continues to grow, demand for modern household equipment and appliances is expected to rise. While this may lead to gradual price increases, advancements in production technology, expanded local manufacturing, and competitive market dynamics are likely to help keep the CPI for this category relatively stable in the medium term.
See also: Retail Industry in Vietnam