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Laos Sees Sharp Inflation Surge in March
(MENAFN) Inflation in Laos surged to 9.7 percent year-on-year in March, up from 6.2 percent in February, according to reports from the Lao Statistics Bureau.
The bureau noted that the most significant price increases were recorded in the goods and services sector, which rose by 39.8 percent.
Officials attributed the spike in inflation largely to instability in the Middle East, which disrupted fuel production and transportation, affecting costs across the country.
Despite the surge, the recent stabilization of the Lao kip has helped ease some of the pressure on import expenses by moderating the impact of exchange rate fluctuations, the report added.
The bureau noted that the most significant price increases were recorded in the goods and services sector, which rose by 39.8 percent.
Officials attributed the spike in inflation largely to instability in the Middle East, which disrupted fuel production and transportation, affecting costs across the country.
Despite the surge, the recent stabilization of the Lao kip has helped ease some of the pressure on import expenses by moderating the impact of exchange rate fluctuations, the report added.
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