VIENTIANE (Xinhua): Laos recorded an inflation rate of 24.92 percent in April, a slight decrease from 24.98 per cent in March, the Lao Statistics Bureau said on Monday.
According to the report released by the Lao Statistics Bureau on its website, the unstable price of fuel, gas and other imported goods, together with the depreciation of the Lao currency kip, are among the main drivers of the inflation.
The highest price rise in April was recorded in the clothing and footwear category, which stood at 37.62 per cent year-on-year.
Other categories included the medical care and medicines at 36.09 percent, the alcohol and tobacco at 28.52 per cent, the household goods at 27.08 per cent, and the communications and transport at 25.99 per cent.
Laos' economy is exposed to external shocks and disruptions as it heavy dependent on import goods for domestic consumption, which leading to economic fragility.
At a nationwide meeting of the finance sector 2023, which took place in Lao capital Vientiane on December last year, Lao President Thongloun Sisoulith vowed to transform the economy by guiding it towards independence and Lao ownership, so as to make it more resilient. - Xinhua
