Vietnam's economic boom is proving costly for the working class

Vietnam's booming market is proving costly for the working class, which face big rises in the price of basic products.

The price of food rose 13.94% in October 2007. The cost of rice and other grains alone increased by 15.98%.

Compared to the same period last year, consumer prices rose 9.34% in October after an 8.8% increase in September, according to the general statistics office (GSO).

Vietnam is trying to keep the inflation rate below the growth in gross domestic product, which grew by 8.16% in the first nine months of the year.

Economists say pressure was increased by the huge inflow of foreign direct investment and the increasing use of credit, which was up 25% last year and 35% by middle of this year.

The working class are hardest hit by high inflation. Therefore, Vietnam has to keep it under control since the working class is a major contribution factor to Vietnam economic growth.