Tue, 03 Oct 2023

VIENTIANE, Dec. 5 (Xinhua) -- Inflation in Laos increased to 38.46 percent year-on-year in November from 36.75 percent in October, according to a report issued by the Lao Statistics Bureau on Monday.

The higher prices of fuel and consumer goods and the continuing depreciation of the Lao currency kip are among the main factors driving the inflation.

Rising oil prices are impacting the transport price index, causing an increase in the price of goods that depend on fuel for their production or transport.

According to the report, costs in the communications and transport category rose by 55.4 percent year-on-year in November.

The price of food and non-alcoholic beverages has surged by 42.3 percent. The cost of the hotel and restaurant category rose by 30.9 percent.

In addition, the cost of housing category surged by 30.41 percent. Meanwhile, the cost of medical care and medicine increased by 42 percent.

Price hikes across all types of products have caused more hardship for the general public, especially those on low wages.

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