XINHUA – Despite the Lao government’s efforts to address rising prices and inflation, the inflation rate in the Southeast Asian country remained high at 26.1 per cent in July.
According to a report released by the Lao Statistics Bureau yesterday, the highest price rise in July was recorded in the medical care and medicines category, which stood at 39.9 per cent year-on-year.
Others driving inflation included the hotel and restaurant category at 34.4 per cent and the household goods category at 30.1 per cent.
On July 2, Lao Prime Minister Sonexay Siphandone issued a decision on the establishment of an ad-hoc committee to study and address rising goods prices and inflation in the country.
The Lao government will further coordinate with related sectors to effectively tackle rising inflation and foreign exchange rates in order to reduce their impact on the price of goods.
