VIENTIANE (XINHUA) – Laos recorded an inflation rate of 24.37 per cent in December, a slight decrease from 25.24 per cent in November, according to the Lao Statistics Bureau.
The weak kip is seen as one of the main factors driving inflation, according to a report released by the Lao Statistics Bureau on Thursday.
In December, the highest price rise was recorded in the hotel and restaurant category, which stood at 35.88 per cent year-on-year.
Other categories driving inflation included the clothing and footwear category at 33.44 per cent year-on-year, medical care and medicines at 29.49 per cent, the household goods category at 25.94 per cent, and the food and non-alcoholic beverage category at 23.96 per cent.
While inflation has eased since early 2023 in the Southeast Asian country, Laos still has one of the highest inflation rates in the region, causing real household incomes to fall for many people, and weakening consumption and investment.
