VIENTIANE (Vientiane Times/ANN): Laos recorded an inflation rate of just five percent this month, down slightly from the 5.3 per cent recorded in July, according to a report issued by the National Statistics Bureau of the Ministry of Finance.
However, the report noted that several categories of goods and services continued to experience significant inflationary pressure.
The price of housing, water, electricity and cooking fuel rose sharply by 15.3 per cent, reflecting ongoing challenges in the utilities and energy sectors.
Other goods and services saw a 14.9 per cent increase, while healthcare and medicine prices climbed by 13.6 per cent.
In the education category, a slight monthly increase of 0.6 percent was recorded. The price of school uniforms increased by 1.8 per cent, textbooks by 0.5 per cent, and notebooks by 2.2 per cent, coinciding with the start of the new academic year.
The Consumer Price Index (CPI) was recorded at 254.5 in August, compared to 252.6 in July. Last year, the CPI was estimated at 239.76 in July and 242.49 in August.
Inflation rates were significantly higher in 2024, with a figure of 26.09 per cent recorded in July and 24.29 per cent in August, indicating a considerable easing of inflationary pressure over the past year.
While the recent decline in inflation is an indication of improved economic stability, the government has acknowledged that continued efforts are essential to sustain this progress.
During a recent government cabinet meeting, several key priorities were outlined to address underlying inflation drivers and mitigate cost-of-living pressures.
The government’s agenda for September focuses on strengthening macroeconomic stability, stabilising the price of essential goods, improving domestic production, and enhancing the supply chain for fuel, electricity and food.
Emphasis was also placed on boosting agricultural productivity, promoting local goods and services, and improving the business environment to ensure long-term price stability.
Despite ongoing improvements, challenges remain, and the government is committed to building on recent gains, reinforcing national resilience, and improving the well-being of the Lao people through targeted economic measures and sound fiscal management. - Vientiane Times/ANN
