Inflation in Laos hits 18-year high at 12.8 pct in May

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Inflation in Laos hits 18-year high at 12.8 pct in May

STORY: Inflation in Laos hits 18-year high at 12.8 pct in May DATELINE: June 11, 2022 LENGTH: 00:02:05 LOCATION: Vientiane CATEGORY: ECONOMY SHOTLIST: 1. various of views in Laos STORYLINE: Laos' inflation rate climbed to 12.8 percent in May on a yearly basis, the highest in 18 years, according to the latest report from the Lao Statistics Bureau. The fuel crisis, with petrol stations across the country running dry, and the continuing depreciation of the kip are among the main factors driving inflation. The surge in the consumer price index survey, which measures the prices of various goods, was the largest after the year-on-year inflation rate hit 12.9 percent in February 2004. The price of consumer goods jumped faster than expected over the past eight months, with the high cost of fuel, food and other essentials placing a great burden on ordinary people. In May 2022, the price of fuel surged by 92.6 percent year-on-year, affecting both the cost of production and the cost of living. The price of gas,

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