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188032
Mon, 06/13/2011 - 07:09
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https://oananews.org//node/188032
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Inflation rate increase by almost 10 percent
VIENTIANE,JUNE.(KPL)- The Government has stepped on issuance of measure on inflation control to impede the increased inflation rate after finding the inflation rose by 9.24 per cent in April.
Last six months of this year the inflation rate was worse which averaged 6.79 percent. However the government is concurrently intervening and issuing a control measure seriously to prevent the worsening conditions. The Bank of Lao PDR has closely been sustained the value of kip currency and monitored currency exchange and launched a campaign on kip use, Deputy Head of Government Secretariat, Mr. Khamphanh Phueyyavong said at an anti-inflation meeting held at the Prime Minister’s Office.
“The inflation worsened almost 10 per cent last April, he continued. “The government was taking action against the inflation rate affecting the world economy and people’s living conditions in many countries worldwide. People in some countries have called on the governments to address the current problem because they were suffering from purchasing goods.”
The Lao PDR is a country suffering from the inflation saw its trend to be worse month-on-month. The latest worsened inflation rate was last April, increasing to 9.24 per cent from 5.76 early this year. On average the first six months of this year accounted for 6.79 per cent compared to the last year’s same period increased by 3.2 per cent, according to Mr. Khamphanh.
Concerning this problem, the government has pointed out the high inflation occurred last April, as a consequence to the sustained fuel price hike in the world market and the price of fuels in Vientiane Capital petrol increased by 11,000 kip per litre and diesel 10,000 kip per litre. This year the price of fuel in the world market increased by 25 per cent compared to the first six months of this facial year. The fuel price in the world market was US$ 120 per barrel.
The consumer goods and food price in the domestic market started increasing during the celebration of Lao New Year including fish, meats, chicken, animal feed, and chemical fertilisers. Mr. Khamphanh added that in order to counter against the inflation rate, the government and sector concerned to raise awareness for local people and private sectors participating in development and promotion of foodstuff especially rice production and other foods.
Local people have been urged to use petrol and electricity economically and not to pay for luxury goods.
Last six months of this year the inflation rate was worse which averaged 6.79 percent. However the government is concurrently intervening and issuing a control measure seriously to prevent the worsening conditions. The Bank of Lao PDR has closely been sustained the value of kip currency and monitored currency exchange and launched a campaign on kip use, Deputy Head of Government Secretariat, Mr. Khamphanh Phueyyavong said at an anti-inflation meeting held at the Prime Minister’s Office.
“The inflation worsened almost 10 per cent last April, he continued. “The government was taking action against the inflation rate affecting the world economy and people’s living conditions in many countries worldwide. People in some countries have called on the governments to address the current problem because they were suffering from purchasing goods.”
The Lao PDR is a country suffering from the inflation saw its trend to be worse month-on-month. The latest worsened inflation rate was last April, increasing to 9.24 per cent from 5.76 early this year. On average the first six months of this year accounted for 6.79 per cent compared to the last year’s same period increased by 3.2 per cent, according to Mr. Khamphanh.
Concerning this problem, the government has pointed out the high inflation occurred last April, as a consequence to the sustained fuel price hike in the world market and the price of fuels in Vientiane Capital petrol increased by 11,000 kip per litre and diesel 10,000 kip per litre. This year the price of fuel in the world market increased by 25 per cent compared to the first six months of this facial year. The fuel price in the world market was US$ 120 per barrel.
The consumer goods and food price in the domestic market started increasing during the celebration of Lao New Year including fish, meats, chicken, animal feed, and chemical fertilisers. Mr. Khamphanh added that in order to counter against the inflation rate, the government and sector concerned to raise awareness for local people and private sectors participating in development and promotion of foodstuff especially rice production and other foods.
Local people have been urged to use petrol and electricity economically and not to pay for luxury goods.
