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Inflation in Laos keeps mounting

Laos’s inflation in October surged by 36.7% annually, a record in the past 22 years, according to the Lao Statistics Bureau.
Inflation in Laos keeps mounting ảnh 1Illustrative image (Photo: Vientiane Times)

Vientiane (VNA) – Laos’s inflation in October surgedby 36.7% annually, a record in the past 22 years, according to the Lao StatisticsBureau.

In September, the figure stood at 34.5%.

It was attributable to a surge in prices of goods like food,beverages, fuel and other consumer goods. In particularly, fuel prices soaredby 95% from the same period last year.

According to Lao economists, the cause of growing inflation wasthe global economic downturn, conflicts between major powers and the COVID-19pandemic that disrupted economic activities. Moreover, the depreciation of the domestic currency against foreign ones has an impact on prices of imports whiledisasters also resulted in crop loss.

Since 2021, Laos has become one of the countries with thehighest inflation in Southeast Asia./.

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