Inflation rate closes in on two digits
The year-on-year inflation rate in Laos surged to 9.9 percent in April, the highest figure recorded since January 2016, according to the latest report from the Lao Statistics Bureau. The consumer price index jumped at its fastest pace in recent months, further putting the squeeze on consumers with more to be paid for food, fuel and other essentials.
Laos has one of the highest rates of inflation in Southeast Asia, mainly driven by rising oil prices and the continuing depreciation of the kip. In addition, prices in the housing, water, electricity and gas category rose by 1.7 percent month-on-month and 9 percent year-on-year.
The cost of food and non-alcoholic beverages increased by 1.8 percent month-on-month and 5.7 percent year-on-year.
Souksakhone Vaenkeo
