Laos Experiencing Low Inflation Rate
The inflation rate in Laos remains low, despite a rising cost of living, according to the Lao National Statistics Bureau.
The bureau announced recently that the Consumer Price Index (CPI) was 109.91 points in January, demonstrating only a 0.27 percent difference with the previous month.
This difference moved the year-on-year change of the CPI up by 0.97 percent, according to the bureau’s report.
“The year-on-year change in the CPI has remained low with the annual change at 0.97 percent. The low inflation was made possible due to CPI of consumer goods categories, which are base of the inflation rate in the country and has seen a continued contraction,” said the report.
Food and non-alcoholic beverages remained at 102.3 points in January, marking a 0.33 percent increase compared to the previous month.
The CPI of clothes and shoes saw a month-on-month change at 0.75 percent in January, staying at 104.95 points. This figure saw a year-on-year difference of 2.93 percent. Meanwhile, the CPI of housing, water, and cooking gas was 103.18 points, with a month-on-month change of 0.15 percent, and year-on-year change of 2.07 percent.
The Lao National Statistics Bureau is a department under the Ministry of Planning and Investment.
Source: Xinhua News Agency