KPL
(KPL/VNA) - Laos recorded an inflation rate of 25.7% in September 2023, a slight decrease from 25.9% in August, and the lowest for the past 12 months, according to the Lao Statistics Bureau.
(KPL/VNA) -
Laos recorded an inflation rate of 25.7% in September 2023, a slight decrease
from 25.9% in August, and the lowest for the past 12 months, according to the
Lao Statistics Bureau.
According to
the bureau, the depreciation of the Lao kip is one of the main factors driving
inflation, as one-third of the goods used to calculate price rises are
imported.
While
inflation has eased since early 2023 in the country, Laos still has one of the
highest inflation rates in the region, causing real household incomes to fall
for many people, weakening consumption and investment.
In September,
the hike in consumer prices was mainly driven by the hotel and restaurant
category, which showed a 34.4 % rise year-on-year.
This was
followed by the clothing and footwear category at 29.7 percent, food and
non-alcoholic beverage category at 29.4 %, household goods at 24.3 %, and
alcohol and tobacco category at 23.4 %.
In addition,
the cost of the medical care and medicines category rose by 21.1%, while the
cost of the communications and transport category went up 20.7 %.
The Lao
Ministry of Industry and Commerce has collaborated with local companies to sell
commonly used consumer items at lower prices, as part of its efforts to
alleviate the impact of rising food prices.
At the
regular Government meeting for September, Lao Prime Minister Sonexay Siphandone
outlined measures to address the problems of inflation, exchange rates,
commodity prices, and foreign debts.
KPL
