Laos’s inflation rate drops for second month

Laos’s inflation rate in April dropped to 39.89%, a slight fall from the average rate of 40.85% in the first quarter of this year, according to the Lao Statistics Bureau.

The country recorded an inflation rate of 40.97% in March, the first drop from the previous month.

In April, the highest price rises were recorded in the food and non-alcoholic beverage category, which surged by 52.21% year-on-year, followed by the medical care and medicines category at 42.55%; communications and transport category at 32.69%; hotel and restaurant category at 37.39%; household utilities at 34.20%; and housing, water, electricity, and gas category at 26.59%.

Although the inflation rate tended to decrease compared to the first three months of the year, prices of many commodities including pork, beef, chicken, and rice continued to increase by about 1.7% in general.

Statistics showed that in April, although there was no pressure from the increase in oil prices, goods and commodities in Laos saw a spike in prices due to high demand during the Lao New Year celebration. Meanwhile, the continuing depreciation of the Lao kip is among the key factors driving inflation in Laos./.

Source: Vietnam News Agency