VIENTIANE, June 26 (Xinhua) -- Laos' inflation rate eased to 28.64 percent in June, marking the fourth straight month of decrease in the country, according to the Lao Statistics Bureau.
The year-on-year inflation rate in Laos dipped slightly to 40.97 percent in March, 39.89 percent in April and 38.86 percent in May after Laos passed the peak of headline inflation recorded at 41.26 percent in February, according to a report released by the agency on Monday.
In June, the cost of food and non-alcoholic beverage category stood at 42.73 percent year-on-year, the cost of hotel and restaurant category stood at 28.78 percent and medical care and medicines category at 25.09 percent.
In addition, the cost of clothing and footwear category stood at 24.60 percent. Meanwhile, the cost of household utilities was recorded at 23.94 percent.
Depreciation of the kip (Lao currency) is one of main factors driving inflation, which makes it challenging for the Lao government to curb the rising cost of goods and services.
On June 1, Laos' central bank set up a new department to help increase the flow of foreign currency through the banking system and effectively handle foreign currency reserves.
The department will also lead efforts to stabilize the value of the Lao kip against foreign currencies and encourage greater circulation of domestic currency and goods so that the national currency maintains a stable value. ■
