High Spending Over Lao New Year Could Drive Up Inflation
Economists are concerned that a surge in spending by households and offices over Lao New Year could drive up food prices even further
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Inflation Laos
Laos Imposes Price Controls to Curb Inflation, But Merchants Say They’re Losing Money
As inflation soars, officials will enforce controls on 23 items with fines and jail time.
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Inflation Hits New High of 41.3%
The year-on-year inflation rate is continuing to rise, soaring to 41.3 percent in February.
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Laos Must Address Rising Inflation in 2023
The Lao economy has been seriously impacted by rising inflation and the deterioration of the national currency, the kip. These problems have been caused by longstanding structural vulnerabilities, and can only be corrected by medium- to long-term reform efforts.
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Meat Prices Rise Further With No Sign Of A Fall
The price of beef, pork and farmed fish on sale in markets is continuing to rise, with no sign of a pending decrease given the weak kip and high inflation rate.
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More Money Needed For Payment Of Debt, Salaries, Development Schemes
The payment of government officials’ salaries, investment in development projects and repayment of debts constitute the largest portion of government expenditure allocated for 2023
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Expressway Tolls Rise In Line With Kip/Dollar Exchange Rate
The Laos-China Expressway Development Cooperation Co., Ltd. recently announced the new toll rates, which have resulted in numerous comments on social media from people already struggling to cope with with rising prices.
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Govt To Mobilise More Funds To Repay Debts, Address Fiscal Deficit
The government plans to mobilise 41.15 trillion kip to address the projected fiscal deficit and repay domestic and overseas loans by the end of 2023
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Despite High Economic Growth, Job Creation In Laos Remains Limited
Laos has recorded one of the highest rates of economic growth in South-East Asia over the past two decades, but few jobs have been created.
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Inflation In Laos Soars To Its Highest Rate At 39.27% In December
In December 2022, Laos set a new record for the highest inflation rate of the year
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Laos Sets Economic Growth Target Of 4.5% For 2023
Despite the global economic downturn, the National Assembly of Laos has set an economic growth target of at least 4.5% for 2023
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Laos’ Inflation To Fall Sharply In 2023: ADB
The Asian Development Bank (ADB) has forecast that the inflation in the Lao People’s Democratic Republic (Lao PDR) will average 23% in 2022 before falling to 10% in 2023
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Govt Struggles To Regulate Currency Exchange Rates
The continuing depreciation of the kip is creating a major roadblock in the government’s efforts to rein in inflation
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Gov’t Targets Reduced Inflation Rate Of 9 Percent In 2023
Skyrocketing inflation is causing great hardship and people are desperately wondering how they can survive as prices across all categories hit record highs.
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Inflation Rate Jumps To 36.75 Percent In October
The price of food and non-alcoholic beverages has surged by 38.8 percent year-on-year, driven by the rising price of rice and other daily food items such as pork, poultry, fish, seafood, eggs, vegetable oil, fruit and vegetables
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Are Laos’ New Railways A Solution To Its Lack Of Trade With The West?
Transport costs are not the only problem facing the country, but reducing them could help spur progress in other areas.
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Spiraling Inflation Forces Lao People To Cut Expenses
Residents in Lao capital tighten their belts by giving up buying trendy things, spending money wisely, growing vegetables and using domestic products to beat the spiraling inflation which hit a 22-year high in September.
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Money Exchange Units Banned From Selling Foreign Currency
Under the new policy, money changers will be allowed to buy foreign currencies from customers but are forbidden to sell currencies other than kip
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ADB Projects Steady Recovery For Lao Economy In 2023
The Asian Development Bank (ADB) believes the Lao economy will see a gradual recovery next year, supported by new investment and higher renewable energy and mining output.
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Lao Economy Projected To Grow At Only 2.2 Percent This Year: IMF
The IMF’s downgraded growth for Laos is linked to both external and internal factors, with the report forecasting that global growth will decrease from 6.0 percent in 2021 to 3.2 percent in 2022 and 2.7 percent in 2023.
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Inflation In Laos Hits 22-Year High
Inflation rate in Laos surged from 30.01% in August, 2022, to 34% in September
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World Trade Growth To Slow Sharply In 2023
World trade is expected to lose momentum in the second half of 2022 and remain subdued in 2023, as multiple shocks weigh on the global economy
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Weak Kip Harming Lao Economy
The currency devaluation is having a damaging effect on the Lao economy, driving up the price of products and creating more hardship for the poor.
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Slower Growth Projected For Lao Economy: World Bank
Economic performance in Laos could be compromised by slowing global demand, rising debt, and a reliance on short-term economic fixes to cushion against food and fuel price increases
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Govt Pledges To Tackle Public Debt, Price Increases
The government has vowed to further address mounting public debt and the vulnerability of the macroeconomy to prevent the country from being dragged into default.
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Economic Recovery In Laos Delayed Due To Rising Prices, Supply Disruptions: ADB
The Asian Development Bank (ADB) has lowered its 2022 economic growth outlook for Laos to 2.5 percent from 3.4 percent projected in April and to 3.5 percent from 3.7 percent for 2023.
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Low Income Earners Concerned About Food Expenses
People with low incomes across the country are concerned about their growing expenses on food following a steep rise in the prices of agricultural and food products.
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Claims Of Default In Laos Are Bankrupt
Geo-economic factors mean that the concerns about Laos defaulting are unrealistic.
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Laos’ Trade Deficit Reaches US$114 Million In July
The main importing countries of Laos include Thailand, China, Vietnam, the United States, and Japan.
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Govt Pledges To Stabilise Macro Economy
The government pledged to ensure sufficient fuel is available by pursuing market-based mechanisms, saying this would minimise damage to the economy and small-scale commercial production.
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Soaring Prices Put Squeeze On Low-Wage Earners
The year-on-year inflation rate hit 23.6 percent, the highest figure ever recorded since May 2000.
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Why China Can’t Let Laos Default
Laos faces intensifying economic and financial crises and there is likely no way out without some form of a Chinese bailout or debt forgiveness.
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A Fuel Shortage Is Driving Laos — Which Is On The Brink Of A Debt Default — To Seek Out Cheap Russian Oil
Russian gas is 70% cheaper than supplies from other international sources, according to Nikkei, citing local media.
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Inflation Hits 22-Year High Of 23.6 Percent
The inflation rate in Laos hit 23.6 percent year-on-year in June, the highest figure ever recorded since May 2000 as surging prices of energy and consumer goods continue to deepen hardship and create new pains for the Lao public.
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Looming Debt Crunch Positions Laos As Next Possible Asia Default
Source: Bloomberg Laos, with dwindling cash reserves and surging inflation, is facing some of the same strains that pushed Sri
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Lao Economy Grinding To A Halt As Fuel Crisis Deepens
A plummeting currency, dwindling foreign reserves, and a spike in global oil prices have led to shortages across the country.
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Businesses And People Hit By Depreciating Local Currency
The value of the Lao kip has dropped significantly since last year against the backdrop of volatility in the global fuel market due to the Russia-Ukraine conflict.
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Price Of Imported Goods Soars To Record High
The cost of imported household goods surged by 15-50 percent in April compared to the figure recorded in January
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Inflation Jumps To Record High
The year-on-year inflation rate in Laos surged 8.5 percent in March, even more than expected, and rose to the highest figure recorded since January 2016.
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Inflation In Laos Higher Than GDP Growth
Inflation in Laos has surged higher than the projected rate for the Gross Domestic Product (GDP), sparking fears among many people regarding the impact on their living standards.
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Foreign Currency Deficit Among Economic Challenges Confronting Laos
Laos’ overall balance of payments situation is negative despite a trade surplus of US$1.32 billion in 2021 because foreign exchange inflows represent only 26.45 percent of the total export value.
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Inflation Jumps To Six-Year High Of 7.3 Percent
The year-on-year inflation rate jumped to 7.3 percent in February, the highest figure recorded in Laos since January 2016.
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Global Fuel Price Hike Affecting Oil Supply In Laos
The rise in price of imported fuel means that retail prices in Laos will inevitably continue to rise.
The price of oil is factored into the cost of production, meaning that product prices will also rise.
Rising Inflation Sparks Public Concern
In the past 42 days, fuel prices have risen four times, causing heated debate among members of the public who are increasingly concerned about the spiralling cost of consumer goods.
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Motorists Nationwide Hit By Yet Another Hike In Fuel Prices
Source: Vientiane Times Motorists in Vientiane and provinces across Laos are in the hot seat again as the retail prices
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Trade Union Body To Seek Hike In Minimum Wage
The Lao Federation of Trade Unions (LFTU) plans to ask the government to approve an increase in the monthly minimum wage from 1.1 million kip to 1.3 million or 1.5 million kip.
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Price Of Construction Materials Surges, Labour Rates Dip
People hoping to build a house this coming dry season will have to think twice now that the price of many construction materials on sale in Vientiane has risen sharply.
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Bureau Outlines Three Main Causes Of Inflation
The Lao Statistics Bureau has highlighted three main underlying causes of inflation, amid rising concerns over the ongoing health crisis and food security.
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Covid-19 Delays Economic Recovery In Laos: ADB
The unanticipated Covid-19 pandemic has delayed economic recovery in Laos, with consumption hit hard by the virus control measures implemented since April
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Hike In Premium Grade Fuel Price To Hit Motorists’ Pockets
Petrol stations in the capital and Vientiane province are now selling premium grade fuel at 11,289 kip per litre, which is the lowest price in the country.
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Inflation Continues To Rise Amid Covid-19 Crisis
The year-on-year inflation rate continued to rise in Laos in March amid economic distress triggered by the Covid-19 pandemic.
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Inflation Down But Cost Of Living Remains High
The Consumer Price Index (CPI) stood at 113.61 points in February, indicating an inflation rate of 1.91 percent year-on-year, down from the 2.01 percent recorded in January
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Pork Price Spirals As Controls Fail
Authorities have been unable to cap the price of pork, which has now risen above the price set during the Covid-19 pandemic, and are trying to find a way to keep prices down.
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Inflation Rises In Laos In December
The Consumer Price Index (CPI) in Laos continues to rise despite the government’s enhanced measures to control the prices of products in local markets.
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Inflation Trending Downwards But Still High
The Consumer Price Index (CPI) has dipped in recent months after inflation peaked at 6.94 percent in January.
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Inflation In Laos Remains Sore Point For The Poor
The Consumer Price Index (CPI) remains high in Laos despite the government increasing measures to curb rising prices at Lao markets.
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Inflation Rate Climbs Above 3 Percent
The Lao inflation rate continued to increase above 3 percent in September despite the government introducing a number of measures to control the price of goods in local markets.
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Higher Fuel Price Driving Inflation In Laos
The rising price of fuel has become the new driving force behind inflation, sending a signal that the government must address this economic risk.
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Low Inflation Rate Recorded In Laos
The Lao National Statistics Bureau said inflation remains low in the country despite rising cost of living.
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IMF Sounds Concerns Despite Strong Lao Growth
The IMF also expressed concerns about the nation’s declining levels of foreign-currency reserves, a rising budget deficit and relatively high levels of public debt.
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Inflation Threatens To Consume The Benefits Of Growth
The inflation rate in Laos continues to rise despite the government’s mitigating measures designed to regulate the rate, according to a recent government report.
Local residents in Vientiane have always complained about rising food prices in the capital as it directly affects their livelihoods, particularly the poor.
The average inflation rate over the past 6 months of 2013-14 reached ….