Laos's inflation falls for first time after more than a year

06/04/2023 15:15
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KPL (KPL/VNA) The inflation rate of Laos declined slightly from 41.3% in February to 41% in March, according to the Lao Statistics Bureau (LSB), marking the first time the rate has decreased after continuously increasing for more than a year.

(KPL/VNA) The inflation rate of Laos declined slightly from 41.3% in February to 41% in March, according to the Lao Statistics Bureau (LSB), marking the first time the rate has decreased after continuously increasing for more than a year.

The LSB’s latest report said that despite a drop in inflation, the costs of all goods and services remain very high and Laos is still one of the countries with the highest inflation rate in the region.

The prices of food and non-alcoholic beverages saw the highest increase in March, up 51% compared with the same period last year. It was followed by medical care and medicine (41.8%), communications and transport (41.7%), hotels and restaurants (36.9%) and household utilities (35%).

Economists expressed concern about the possibility of price increases in April due to higher demand during the upcoming traditional New Year festival Bounpimay in Laos.

The LSB said it was difficult to predict the volume of goods to be imported in the coming weeks, forecasting that the inflation rate in April could be higher than that of March.

KPL

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