KPL
Inflation in Lao PDR rose to 6.2 percent in February, up from 5.1 percent in January, driven by stronger domestic demand and higher energy prices, according to the latest report from the Lao Statistics Bureau.
The bureau reported broad-based price increases across key sectors of the economy. The goods and services category recorded the sharpest rise, surging 37 percent year-on-year. Housing, water, electricity and gas costs climbed 24.3 percent, while medical care and medicines increased by 13 percent. Education services rose by 11.7 percent.
The upward trend highlights continuing cost-of-living pressures for households, even as authorities pursue macroeconomic stabilization and structural reforms aimed at strengthening a more self-reliant economy.
In an effort to ease inflationary pressures and support monetary stability, the Bank of the Lao PDR recently reduced its seven-day basic interest rate from 8.5 percent to 8 percent. The adjustment is expected to help guide inflation toward the government’s target of around 5 percent while supporting economic activity.
KPL
