Laos’ inflation rate in November hits 23-year record
The inflation rate in Laos surged to 38.46% in November, a record high in the last 23 years, according to the Statistics Bureau under the Lao Ministry of Planning and Investment.
Food is sold at a market in Sam Neua, Houaphane province. (Photo: AFP/VNA)
This was attributable to the surge in prices of goods, with those of food and non-alcoholic drinks up 42.68%, alcohol and tobacco 22.59%, garment and footwear 25.67%, housing services, clean water, electricity and daily-use gases 24.08%, household appliances 30.41%.
The prices of medical services and pharmaceuticals increased 42.05%, transportation 55.43%, post and telecommunications 12.44%, entertainment and accommodation services 18.51%, education services 13.26%, hotels and restaurants 30.97%, and other goods and services 25.51%.
The rising inflation shows that measures that the Laos Government has implemented over the past time are not as effective as expected. The country’s economy continues to face difficulties that affect production and people’s lives./.
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