Inflation rate in Laos continues to soar in February

Inflation in Laos increases to 41.3% in February. (Photo: VNA)

Vientiane (VNA) - Inflation in Laos increased to 41.3% in February, higher than the 40.3% recorded in the previous month, according to the Lao Statistics Bureau (LSB).

Despite welcoming a large number of international visitors, the country continues to suffer from rising inflation rates, adversely impacting the life of its residents.

Last month, the price of food and non-alcoholic beverages rose by 49.3% while that of alcohol and cigarettes went up to 26.4%.

Medicines and medical care prices surged by 42.4%, while hotel and restaurant services increased by 36.2%. The prices of housing, water, electricity, and cooking gas jumped by 28.3%. Transportation costs also increased by 47.4%.

Khammouane province reported the highest inflation rate at 49.82%, followed by Vientiane, 47.18% and Luang Prabang, 45.09% .

The LSB expects that the inflation rate in March will be around the same as recorded in February.

The LSB and Bank of the Lao PDR (BOL) announced their plans to identify and address the cause of the rising prices of goods in the country in a recent meeting last month./.

VNA