Inflation in Laos rises to 25.8% in May

VIENTIANE: Inflation in Laos increased to 25.8 per cent year-on-year in May from 24.92 per cent in April, according to a report released by the Lao Statistics Bureau on Thursday (May 30).

The highest price rise in May was recorded in the medical care and medicines category, which stood at 38.48 per cent year-on-year, said the report.

Other categories driving inflation included the hotel and restaurant category at 36.57 per cent year-on-year, the clothing and footwear category at 31.34 per cent, and the alcohol and tobacco at 29.63 per cent.

The higher prices of fuel and the continuing depreciation of the Lao currency kip are among the main factors driving inflation, according to the report.

The Lao central bank, the Bank of the Lao PDR, held a meeting on May 22 on strategies to address the country's high inflation.

During the meeting, participants identified the cause of inflation in both global and domestic markets, and discussed potential solutions to mitigate its impact.

To tackle the issue, central banker Bounleua Sinxayvoravong emphasised the importance of raising public awareness about the causes of inflation and measures being taken by the government to mitigate the effects of inflation. - Xinhua