Vientiane:Laos’ inflation rate increased to 7.9% in September, rising from 7.7% in August and 7.6% in July. This rise was primarily influenced by higher fuel prices, adjustments in the cost of education-related goods and services for the new academic year, and seasonal price changes.
According to Lao News Agency, a report from the Lao Statistics Bureau released on September 30 highlighted that the housing, water, electricity, and gas category experienced the most significant price hike in September, with a 30.7% increase.
Additional contributors to inflation included the education sector, which saw an 18.8% rise, followed by goods and services at 17.9%, and communications and transport at 13.6%.
The Bank of the Lao PDR has set a target to keep average inflation below 7% by 2026. The bank plans to achieve this through strategies aimed at maintaining macroeconomic stability, bolstering confidence in the Lao kip, and promoting sustainable economic growth.
