Specific Measures Needed to Curb Inflation: BOL chief
The central bank governor explained that the surge in the cost of goods and services in Laos is closely linked to the depreciation of the kip.
Read MoreThe central bank governor explained that the surge in the cost of goods and services in Laos is closely linked to the depreciation of the kip.
Read MoreBusiness operators have called on the government to seek urgent solutions to tackle soaring inflation
Read MoreThe year-on-year inflation rate dropped for the third month to 38.86 percent in May
Read MoreEconomists are concerned that a surge in spending by households and offices over Lao New Year could drive up food prices even further
Read MoreAs inflation soars, officials will enforce controls on 23 items with fines and jail time.
Read MoreThe year-on-year inflation rate is continuing to rise, soaring to 41.3 percent in February.
Read MoreThe 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.
Read MoreThe 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.
Read MoreThe payment of government officials’ salaries, investment in development projects and repayment of debts constitute the largest portion of government expenditure allocated for 2023
Read MoreThe 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.
Read MoreThe 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
Read MoreLaos 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.
Read MoreIn December 2022, Laos set a new record for the highest inflation rate of the year
Read MoreDespite the global economic downturn, the National Assembly of Laos has set an economic growth target of at least 4.5% for 2023
Read MoreThe 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
Read MoreThe continuing depreciation of the kip is creating a major roadblock in the government’s efforts to rein in inflation
Read MoreSkyrocketing inflation is causing great hardship and people are desperately wondering how they can survive as prices across all categories hit record highs.
Read MoreThe 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
Read MoreTransport costs are not the only problem facing the country, but reducing them could help spur progress in other areas.
Read MoreResidents 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.
Read MoreUnder the new policy, money changers will be allowed to buy foreign currencies from customers but are forbidden to sell currencies other than kip
Read MoreThe 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.
Read MoreThe 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.
Read MoreInflation rate in Laos surged from 30.01% in August, 2022, to 34% in September
Read MoreWorld 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
Read MoreThe currency devaluation is having a damaging effect on the Lao economy, driving up the price of products and creating more hardship for the poor.
Read MoreEconomic 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
Read MoreThe government has vowed to further address mounting public debt and the vulnerability of the macroeconomy to prevent the country from being dragged into default.
Read MoreThe 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.
Read MorePeople 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.
Read MoreGeo-economic factors mean that the concerns about Laos defaulting are unrealistic.
Read MoreThe main importing countries of Laos include Thailand, China, Vietnam, the United States, and Japan.
Read MoreThe 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.
Read MoreThe year-on-year inflation rate hit 23.6 percent, the highest figure ever recorded since May 2000.
Read MoreLaos faces intensifying economic and financial crises and there is likely no way out without some form of a Chinese bailout or debt forgiveness.
Read MoreRussian gas is 70% cheaper than supplies from other international sources, according to Nikkei, citing local media.
Read MoreThe 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.
Read MoreSource: Bloomberg Laos, with dwindling cash reserves and surging inflation, is facing some of the same strains that pushed Sri
Read MoreA plummeting currency, dwindling foreign reserves, and a spike in global oil prices have led to shortages across the country.
Read MoreThe 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.
Read MoreThe cost of imported household goods surged by 15-50 percent in April compared to the figure recorded in January
Read MoreThe 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.
Read MoreInflation 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.
Read MoreLaos’ 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.
Read MoreThe year-on-year inflation rate jumped to 7.3 percent in February, the highest figure recorded in Laos since January 2016.
Read MoreThe 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.
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.
Read MoreSource: Vientiane Times Motorists in Vientiane and provinces across Laos are in the hot seat again as the retail prices
Read MoreThe 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.
Read MorePeople 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.
Read MoreThe Lao Statistics Bureau has highlighted three main underlying causes of inflation, amid rising concerns over the ongoing health crisis and food security.
Read MoreThe unanticipated Covid-19 pandemic has delayed economic recovery in Laos, with consumption hit hard by the virus control measures implemented since April
Read MorePetrol 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.
Read MoreThe year-on-year inflation rate continued to rise in Laos in March amid economic distress triggered by the Covid-19 pandemic.
Read MoreThe 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
Read MoreAuthorities 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.
Read MoreThe Consumer Price Index (CPI) in Laos continues to rise despite the government’s enhanced measures to control the prices of products in local markets.
Read MoreThe Consumer Price Index (CPI) has dipped in recent months after inflation peaked at 6.94 percent in January.
Read MoreThe Consumer Price Index (CPI) remains high in Laos despite the government increasing measures to curb rising prices at Lao markets.
Read MoreThe 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.
Read MoreThe rising price of fuel has become the new driving force behind inflation, sending a signal that the government must address this economic risk.
Read MoreThe Lao National Statistics Bureau said inflation remains low in the country despite rising cost of living.
Read MoreThe 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.
Read MoreThe 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 ….