Laos sees lower increase in inflation rate in September
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.
Vientiane (VNA) - Laos recorded aninflation rate of 25.7% in Septeꩵmber 2023, a slight decrease from 25.9% inAugust, 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 thegoods used to calculate price rises are imported. While inflation has eased since early 2023 in thecountry, Laos still has one of the highest inflation rates inthe region, causing real household incomes to fall for many people, weakeningconsumption and investment. In September, the hike in consumer prices was mainlydriven by the hotel and restaurant category, which showed a 34.4 % rise year-on-year. This was followed by the clothing and footwear categoryat 29.7 percent, food and non-alcoholic beverage category at 29.4 %, householdgoods at 24.3 %, and alcohol and tobacco category at 23.4 %. In addition, the cost of the medical care and medicinescategory rose by 21.1%, while the cost of the communications and transportcategory went up 20.7 %. The Lao Ministry of Industry and Commerce has collaboratedwith local companies to sell commonly used consumer items at lower prices, aspart of its efforts to alleviate the impact of rising food prices. At the regular Government meeting for September, Lao Prime MinisterSonexay Siphandone outlined measures to address the problems of inflation, exchange rates, commodityprices, and foreign debts/.
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Illustrative image. (Photo: thestar.com.my) 
