According to the Spatial Cost of Living Index (SCOLI) report in 2021, the Mekong Delta region has the lowest SCOLI index in the country for many years now, only 95.12% Red River Delta region.
Among 11 main commodity groups, there are 8 commodity groups with average prices lower than the average price of the Red River Delta. The main reason is that this is an area with flat terrain, favorable climatic and hydrological conditions for intensive farming to increase crops in agricultural production. low price.
Specifically, the group of food and catering services equals 92.57% of the Red River Delta region; apparel, hats and footwear by 85.52%; traffic equals 93.87%; education group by 93.96%.
Tra Vinh is the locality with the lowest cost of living index in the country, equal to 87.61% compared to Hanoi. The average price of the commodity groups of Tra Vinh compared to Hanoi ranges from 76.58%-99.63%.
The second lowest priced locality in the country is Hau Giang with the SCOLI index in 2021 equaling 87.68%. The average price of Hau Giang’s commodity groups is at 65.38%-99.24% compared to Hanoi.
Next is Soc Trang with a SCOLI index of 88.16% with the average price of commodity groups at 61.89%-96.44% compared to Hanoi.
Illustration: Night market in Tra Vinh
In addition, some other localities also have low SCOLI index in 2021 such as: Quang Tri (88.53%), Nam Dinh (88.92%), Gia Lai (89.04%), Tay Ninh (89), 21%), Phu Tho (90.1%), Vinh Long (90.41%).
In general, the provinces have the lowest prices in the country largely due to items in the group of food and food services; apparel, hats and footwear; rental housing, equipment and household appliances; traffic, post and telecommunications; educational services; entertainment services with low prices.
The Spatial Cost of Living Index (SCOLI) is a relative indicator (in %) that reflects the difference in the prices of goods and services serving people’s daily lives between provinces/cities directly related to the cost of living. centrally, between regions in the country at a time (month, quarter or year). SCOLI is calculated on the basis of the methodology of international comparative prices with the Data Source of the Consumer Price Survey.
This index is used in analyzing the results of the implementation of policies on hunger eradication and poverty reduction, hardship allowances, wage subsidies, and research on population living standards among provinces, regions and regions throughout the country.
At the same time, this index is also the basis for calculating the Human Development Index (HDI), which calculates the Gross Product in the provinces and centrally-run cities (referred to as GRDP) according to the relative purchasing power. Minimum living standards and regional salary adjustments, calculation of investment costs, assessment of price competitiveness, diet, accommodation, per diem according to regional prices. SCOLI was used to eliminate price disparities in household income and expenditure across regions. From there, calculate household income and expenditure with the same price level to calculate the poverty rate.
Source: CafeF
Source: Vietnam Insider