Inflation in Laos jumps to 30.1 per cent in August

VIENTIANE, Sept. 7 (Xinhua): Inflation in Laos jumped to 30.1 per cent year-on-year in August from 25.6 percent in July, according to the latest report from the Lao Statistics Bureau.

The higher prices of fuel and consumer goods and the continuing depreciation of the Lao currency kip are among the main factors driving the inflation.

The price of food and non-alcoholic beverages has surged by 30.2 per cent year on year including that of daily essentials like rice, starch, meat, fat, vegetable oil, fruits, and vegetables.

According to the report issued on Tuesday, costs in the communications and transport category rose by 51.7 per cent year-on-year in August.

In addition, the cost of housing, water, electricity and gas category surged by 20.5 per cent year-on-year, the report said.

In response to the economic woes, Lao government has reiterated its pledge to avoid default with more proactive measures adopted to address the country's economic problems.

The Lao government instructed relevant agencies in late August to take stronger actions to address issues ranging from macro-economic vulnerability, improvement of the investment climate and repayment of debts, to fight against natural disasters. - Xinhua

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Laos , Infaltion Rate , Soaring


Next In Aseanplus News

Blackpink’s Lisa meets Taylor Swift on Day 2 of Eras Tour show
Thai PM aide renews call for interest-rate cuts to aid economy
Philippines to charge pastor, a US-wanted Duterte ally, with sexual abuse
Vietnamese capital Hanoi tops list of most polluted international cities
Indian police hunt more suspects in gang rape of Spanish tourist
Love of cricket was the cause on deadly train crash in India; ministers were watching game before tragedy that killed 14
Myanmar and China likely to be high on the agenda as South-East Asian leaders meet in Australia
Health Ministry turns to drug repurposing to combat dengue
Pakistan's Shehbaz Sharif takes oath as prime minister
Cambodia arrests two South Koreans for smuggling 2.27kg narcotics at main airport

Others Also Read