As rampant inflation continues to increase the cost of living in Laos, the Vientiane Ice Association has announced an increase in the price of ice across the city.
The Vientiane Ice Association has issued a notice announcing an uptick in the price of ice across Vientiane Capital from LAK 12,000 for a bag of ice weighing 20 kg to LAK 15,000 as a result of a new adjustment on the price of electricity for commercial enterprises by Electricite du Laos.
The price of electricity, according to the notice, is said to go up by double by the end of 2023 in comparison to the price in February, according to the new price set for industrial usage by the Electricity board.
The notice also indicated that rising inflation has a significant impact on the rising price of ice. Because of the LAK’s depreciation against the USD, ice manufacturers have no choice but to increase their prices to keep up with rising production costs affected by the growing cost of fuel and other imported goods.
During the government’s monthly cabinet meeting earlier this month, Lao Prime Minister Mr. Sonexay Siphandone instructed relevant agencies to quickly come up with a solution to address the vulnerability of the macro-economy and improve people’s living conditions, as the country has been subject to soaring inflation since 2022.