Laos Inflation Rate Shoots up to 38.46 Percent in November

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Laos saw an increase in inflation once again in November at 38.46 percent, according to the latest report from the Lao Statistics Bureau (LSB).

November’s year-on-year inflation rate reached a new high of 38.46 percent, up from 36.75 percent in October. Most people in the country continue to be adversely affected as the cost of living rose with soaring inflation.

Commercial transport and delivery costs saw a significant increase of 55.4 percent due to the constant rise in fuel prices, which has affected the prices of other essential items as well.

Food and non-alcoholic beverage prices went up by 42.3 percent, while healthcare equipment and medicines rose by 42 percent.

The cost of hotel rooms and house equipment also shot up by 30.97 percent and 30.41 respectively.

According to Lao Phatthana, the Lao Kip’s weakness against other currencies like USD, THB, CNY, etc. continues to hike the price of imported goods, compared to the same period last year.

Party Secretary General and President, Thongloun Sisoulith also held a meeting on late October and vowed to address the continuous rise in the inflation rate to keep the currency exchange under control.