Laos inflation rate reached 38.46% high
According to the Statistics Bureau of the Lao Ministry of Planning and Investment, the inflation rate in Laos reached 38.46% in November, a record high in the last 23 years.
This was due to an increase in goods prices, with food and non-alcoholic drinks up 42.68%, alcohol and tobacco up 22.59%, clothing and footwear up 25.67%, housing services, clean water, electricity and daily-use gases up 24.08%, and household appliances up 30.41%.
Medical and pharmaceutical prices increased by 42.05%, transportation by 55.43%, post and telecommunications by 12.44%, entertainment and lodging services by 18.51%, education services by 13.26%, hotels and restaurants by 30.97%, and other goods and services by 25.51%.
Rising inflation indicates that the measures implemented by the Lao government in the past are not as effective as expected. The country’s economy continues to face challenges that have an impact on production and people’s lives.