VIENTIANE, May 5 (Xinhua) -- Laos' inflation rate dropped slightly to 39.89 percent in April from 40.97 percent in March, but food prices remained elevated in the country.
According to a report issued by the Lao Statistics Bureau on Friday, goods and commodities in Laos saw a spike in prices due to high demand during the Lao New Year celebration. Meanwhile, the continuing depreciation of the Lao kip is among the key factors driving inflation in Laos.
In April, the highest price rises were recorded in the food and non-alcoholic beverage category, which surged by 52.21 percent year on year, followed by the medical care and medicines category at 42.55 percent.
In addition, the cost of the communications and transport category stood at 32.69 percent. The cost of the hotel and restaurant category rose by 37.39 percent.
Meanwhile, the cost of household utilities stood at 34.20 percent. The cost of the housing, water, electricity and gas category stood at 26.59 percent.
Laos recorded an inflation rate of 40.97 percent in March, the first drop from the previous month since August 2021.
Lao government instructed an ad-hoc committee to consider pressing consumption issues including rising goods prices and inflation, and work with relevant authorities to come up with short and long-term scientific solutions.
The instruction was issued during the Lao government's monthly meeting held from April 25 to 26 to discuss outstanding issues and challenges faced in the country and new targets for May 2023.
Inflation in Laos has increased significantly since the beginning of 2022, with the rate surging from 6.25 percent in January 2022 to 41.26 percent in February 2023. ■