The first quarter of 2022 saw a slight increase in prices of essential commodities due to a steep hike in fuel prices, according to the Da Nang Department of Industry and Trade.

In particular, the prices of pork rose by 7%, beef by 4%, and vegetables, tubers and fruits by 5-7%.

The retail prices of agricultural products decreased, but the prices of fertiliser and pesticides tended to increase, especially there were a sharp increase in the import prices of products in service of agricultural production as compared to the same period last year.

Specifically, in the 1^st quarter of the year, the import prices of fertiliser of all kinds went up by nearly 42.7%, and animal feeds and raw materials by 27.7% over the same period in 2021.

Last year, passenger transport service providers in the city did not increase their freight rates. However, a number of passenger transport service providers on fixed routes have declared an increase of 9.1 -15% in freight rates in the lastest declaration to compensate for the increased fuel costs since January 2022.

In the first 3 months of 2022, the world petroleum market was still complicated, especially in the face of political tensions between Russia and Ukraine. Meanwhile, petroleum reserves in many countries decreased and gasoline demand increased as countries implemented economic recovery measures.

The domestic petroleum market also has fluctuations in supply chain and the price of petroleum products continues to increase, putting great pressure on commercial business activities, directly affecting the prices of transportation services and some essential items.

Reporting by QUYNH TRANG - Translating by M.DUNG