An aerial view of Vientiane, Laos (Photo: internet)
Vientiane (VNA) - Laos' year-on-year inflationrate dropped to 27.8 % in July, from🐼 28.64 % in June, Lao StatisticsBureau has reported.
According to the bureau, depreciation of the Laocurrency LAK is one of the main factors driving inflation, as one-third of thegoods used to calculate price rises are imported. In July, the hike in consumer prices was mainly drivenby the food and non-alcoholic beverage category, which surged by 37.8 % year onyear. This was followed by the hotel and restaurant category, at 32.8 %; clothing and footwear, 28.5 %; household goods, 24.7 %; and health care and medicines, 20.8 %. Laos' inflation rate fell slightly to 40.97 % inMarch, 39.89 % in April and 38.86 % in May after the country saw the peak ofheadline inflation at 41.26% in February, according to thereport. However, the figure remains sky-high, causing realhousehold incomes to fall for many people, weakening consumption andinvestment. Laos' central bank willcontinue to tighten its monetary policy to stabilize the value of the kip aspart of efforts to curb inflation and minimise the impact on the economy andthe living standards of ordinary people./.
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An aerial view of Vientiane, Laos (Photo: internet) 
