A man riding a motorcycle is seen outside Lao central bank in Vientiane, Laos, on Jan. 9, 2023. Inflation in Laos increased to 39.3 percent year-on-year in December, the highest rate of 2022, according to a report issued by the Lao Statistics Bureau on Saturday. (Photo by Kaikeo Saiyasane/Xinhua)
VIENTIANE, Jan. 8 (Xinhua) -- Inflation in Laos increased to 39.3 percent year-on-year in December, the highest rate of 2022, according to a report issued by the Lao Statistics Bureau on Saturday.
The year-on-year inflation rate in Laos increased from 38.46 percent in November to 39.3 percent in December.
The higher prices of the communications and transport, consumer goods and the continuing depreciation of the Lao currency kip are among the main factors driving the inflation.
According to the report, costs in the communications and transport category rose by 50.4 percent year-on-year in December. The price of food and non-alcoholic beverages has surged by 45.9 percent.
In addition, the cost of housing category surged by 32.1 percent. The cost of medical care and medicine increased by 42.1 percent. Meanwhile, the cost of the hotel and restaurant category rose by 32.2 percent.
Inflation in Laos continued to surge since the beginning of 2022. It climbed from 6.25 percent in January to 7.31 percent in February, 8.54 percent in March, 9.87 percent in April, and 13.81 percent in May.
The inflation rate was 23.6 percent in June, 25.55 percent in July, 30.01 percent in August, 34.05 percent in September, 36.75 percent in October, and 38.46 percent in November.
Price hikes across all types of products have caused more hardship for the general public, especially those on low wages. ■
A vendor counts banknotes at a market in Vientiane, Laos, on Jan. 9, 2023. Inflation in Laos increased to 39.3 percent year-on-year in December, the highest rate of 2022, according to a report issued by the Lao Statistics Bureau on Saturday. (Photo by Tamon Huengmeexay/Xinhua)
People shop at a stall in Vientiane, Laos, on Jan. 9, 2023. Inflation in Laos increased to 39.3 percent year-on-year in December, the highest rate of 2022, according to a report issued by the Lao Statistics Bureau on Saturday. (Photo by Tamon Huengmeexay/Xinhua)
People withdraw cash at ATMs in Vientiane, Laos, on Jan. 9, 2023. Inflation in Laos increased to 39.3 percent year-on-year in December, the highest rate of 2022, according to a report issued by the Lao Statistics Bureau on Saturday. (Photo by Kaikeo Saiyasane/Xinhua)
A vendor waits for customers at a market in Vientiane, Laos, on Jan. 9, 2023. Inflation in Laos increased to 39.3 percent year-on-year in December, the highest rate of 2022, according to a report issued by the Lao Statistics Bureau on Saturday. (Photo by Tamon Huengmeexay/Xinhua)
