Laos Inflation Rate Remains High at 21.7% in September 2024

03/10/2024 12:00
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KPL Laos's inflation rate remained high at 21.7% in September 2024, down from 24.3% in August, according to the National Statistics Center.

(KPL) – Laos's inflation rate remained high at 21.7% in September 2024, down from 24.3% in August, according to the National Statistics Center. The average inflation rate for the first nine months of 2024 stood at 24.8%, a decrease from 33.7% during the same period in 2023.

The slower pace of inflation is attributed to a more stable exchange rate and a decline in oil prices. However, domestic production remains weak, and adverse weather conditions have affected supply, leaving it insufficient to meet demand. Consequently, prices for many goods remain high.

In September, the highest inflation increases were seen in healthcare and medicine, which rose by 34%, followed by accommodation, water, electricity, and cooking gas at 32.9%. Restaurants and hotels saw a 30.9% rise, while home appliances and food prices increased by 29.3%. Non-alcoholic beverages rose by 21.1%.

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