According to the press release of the General Statistics Office, the Spatial Cost of Living Index (abbreviated in English as SCOLI)[1] is a relative indicator [...]
According to a press release from the General Statistics Office, the Spatial Cost of Living Index (abbreviated in English as SCOLI)[1] is a relative indicator (in %) reflecting the difference in prices of consumer goods and services serving the daily lives of people between provinces, centrally run cities, and between socio-economic regions in a certain period of time (usually a year). The SCOLI index serves socio-economic development policy planning, evaluating the results of implementing poverty reduction policies, hardship allowances, and wage subsidies. At the same time, this index is also the basis for calculating the Human Development Index (HDI) and Gross Regional Product (GRDP) according to purchasing power parity. BusinessesThe SCOLI index can be used to evaluate competitiveness related to price, market share, and product costs; Individuals can use the SCOLI index to negotiate wages and consider the possibility of migrating between localities...
The 2023 SCOLI index is compiled for 6 socio-economic regions, comparing prices of 5 regions with the Red River Delta region and compiled for 63 provinces and centrally run cities, comparing prices of 62 localities with Hanoi. The results of compiling the SCOLI index in 2023 show that the Red River Delta region has the highest SCOLI index, and the Mekong Delta region has the lowest SCOLI index. The five localities with the highest prices in the country in 2023 are Hanoi, Ho Chi Minh City, Quang Ninh, Hai Phong and Binh Duong; The five localities with the lowest prices in the country are Ben Tre, Nam Dinh, Quang Tri, Soc Trang and Gia Lai.
Hai Phong ranks 4th with a SCOLI index in 2023 of 96.07%. Hai Phong's price level is at a high position in the country because Hai Phong is one of 5 major cities in Vietnam, a city with a diverse system of commercial organizations with the active participation of all economic sectors. Some product groups in Hai Phong have an average price lower than Hanoi: education by 86.18%; culture, entertainment and tourism by 87.47%; garments, hats and shoes by 87.56%; Food and beverage services equal 94.46%; medicine and medical services by 94.72%. Some product groups have a higher average price than Hanoi: Other goods and services group by 111.94%; Post and telecommunications by 106.56%; household appliances and equipment equals 105.13%./.
Procedures
