The Lao National Bank said recently in an assessment of the economic and financial situation in Laos that the inflation rate will continue to rise due to the price of the crude oil on the world market is still climbing which makes production and transportation cost more expensive.
Last month, the National Bank of Laos confirmed that inflation rate has already reached the level of 8 percent, increasing from 6.4 percent in February to 7.7 percent in March and has a trend to climb up further in the future due to there is no sign yet the price of the crude oil will come down.
Lao media said the government is continuing to apply measures to manage inflation by promoting investment and encouraging increased domestic productivity. Cross-ministry cooperation has increased in an effort to control the price of both domestic and imported products.
The assessment of the Lao National Bank is supported by a consumer price index issued by the Statistics Department of the Ministry of Planning and Investment which indicated that the price of goods has jumped from 112.37 percent in February to more than 113.82 percent in March, but still lower than the rates in neighboring countries.
Listen to our Laos Today report for more details.