VIENTIANE, Dec. 29 (Xinhua) -- Laos recorded an inflation rate of 24.37 percent in December, a slight decrease from 25.24 percent 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 percent year-on-year.
Other categories driving inflation included the clothing and footwear category at 33.44 percent year-on-year, medical care and medicines at 29.49 percent, the household goods category at 25.94 percent, the alcohol and tobacco category at 25.11 percent, and the food and non-alcoholic beverage category at 23.96 percent.
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.
The government is attempting to stabilize exchange rates, modernize the revenue collection system to increase the national income, and boost exports while restricting the import of luxury items. ■
